The COVID-19 virus sweeping the globe is having dramatic impact on asset and commodity prices. Particularly gold.
Contango, also sometimes called forwardation, is a situation where the futures price (or forward price) of a commodity is higher than the spot price of the contract today. Such is the case for gold futures where the futures price for gold exceeds the spot price.
This will not be the Last Contango for Gold.
And good luck finding physical gold in the form of gold bars. Gold coins, on the other hand, are available.
RIP, Honor Blackman.