Bron Suchecki - What GOFO and Backwardation Says About the Gold Market

Posted by Vincent Tie on 09 May 2018


Bron Suchecki of Monetary Metals (https://monetary-metals.com) joins us on the channel to shed light on the Gold Forward Offered Rate (GOFO), the implications when the gold market goes into backwardation and usefulness of GOFO as an indicator of the market. Bron also shares his outlook for gold and silver in 2018.

Discussed in the interview:
03:09 Gold works as a control on the monetary system
05:00 Do currencies need to be backed by gold?
07:18 The U.S dollar will not be the reserve currency forever
08:10 What is the Gold Forward Rate & backwardation
11:32 When the spot price is higher than the futures price
16:32 GOFO is a subtle indicator, it is not definitive
22:02 Why the LBMA stopped publishing GOFO
26:06 Possible factor causing sideway gold & silver prices
29:15 Was 2015 the bottom for gold?
31:09 Performance of gold & silver in 2018
35:40 Difference between the price ratio and the mining ratio

 

 

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