Hidden Forces
Description
In Episode 129, Demetri Kofinas speaks with Josh Crumb, founder & CEO of Abaxx Technologies and the former head of metals strategy at Goldman Sachs. The two discuss a curious case of backwardation on the COMEX where the price of gold in near-dated futures expiring at the end of March spiked by almost 10% last week to $70 an ounce above the cost of physical. Josh explains what really happened, how disruptions to global supply chains caused by COVID-19 factor in, and why it matters to you.