platinum futures have move to a backwardation

wuzge, Mittwoch, 19.12.2007, 08:43 (vor 6187 Tagen) @ tofir

“Moving on to gold and the precious metals, we note firstly
that gold is back nicely above $800/oz, but perhaps more
importantly it is trading EUR 556 and is very close in the
latter case to breaking out to the upside. Note also how
"green" are the price changes noted above as gold, silver
and platinum have all moved more than 1% higher in the
past twenty four hours. Most importantly, we note that
platinum futures have move to a backwardation.... a rarity
in the world of precious metals dealing. We cannot recall
a backwardation in the precious metals since the massive
squeeze manifest upon palladium years ago in the final
days of the Tiger Funds reign under Mr. Robertson. We
have no idea who or what is behind the backwardation in
platinum, and we are open to suggestions from our clients
in the precious metals business. We note only that
platinum is backwardated; that this is highly... very
highly... unusual, and that we shall never sell
backwardated precious metals markets short. Others
may; we won't, remembering Mark Twain's now infamous
cat and its experience with hot stoves.”

http://www.cfsfutures.com/images/E0067301/121907.pdf