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When I watch the price of gold during the day, I normally just glance at Bloomberg, which gives the 100oz futures price, delayed by 15 minutes. But if there's something interesting happening I'll open up the Bullionvault interactive chart, which quotes spot gold as often as every few seconds.
After accounting for the 15 minute delay on the Bloomberg data, my impression is that the futures price has tracked the spot price VERY closely, i.e., to within $0.20/oz or so, up until the last couple weeks. Since then, it seems like the futures price is routinely about $1/oz higher than spot. This might indicate increasing belief that the spot price will keep rising... but I don't really have the data to be sure.
Anybody know whether futures prices are starting to diverge from spot?
After accounting for the 15 minute delay on the Bloomberg data, my impression is that the futures price has tracked the spot price VERY closely, i.e., to within $0.20/oz or so, up until the last couple weeks. Since then, it seems like the futures price is routinely about $1/oz higher than spot. This might indicate increasing belief that the spot price will keep rising... but I don't really have the data to be sure.
Anybody know whether futures prices are starting to diverge from spot?
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