{"id":1161,"date":"2014-11-06T10:42:42","date_gmt":"2014-11-06T15:42:42","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1161"},"modified":"2014-11-06T10:42:42","modified_gmt":"2014-11-06T15:42:42","slug":"physical-gold-shortage-worst-in-over-a-decade-gofo-most-negative-since-2001-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1161","title":{"rendered":"Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001 | Zero Hedge"},"content":{"rendered":"

Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001 | Zero Hedge<\/a>.<\/p>\n

The last time there was an systemic physical gold shortage was in July 2013. It is then that, for the first time in 5 years, the 1-month Gold forward offered rate, or GOFO, went negative.\u00a0We said<\/a>:<\/p>\n

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Today, something happened that has not happened since the Lehman collapse: the\u00a01 Month Gold Forward Offered\u00a0<\/a>(GOFO) rate turned negative, from 0.015% to -0.065%, for the first time in nearly 5 years, or technically since just after the Lehman bankruptcy precipitated AIG bailout in November 2011. And if one looks at the 3 Month GOFO, which also turned shockingly negative overnight from 0.05% to -0.03%, one has to go back all the way to the 1999 Washington Agreement on gold, to find the last time that particular GOFO rate was negative.<\/p>\n

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Fast forward to today, when as noted over the\u00a0past week\u00a0<\/a>there has been a massive shortage of precious metals – most notably silver which as of this moment is indefinitely\u00a0unavailable at the US Mint\u00a0<\/a>– as a result of the tumble in the paper price, and following 8 days of sliding and negative 1 month GOFO rates,\u00a0today the physical metal shortage surged, as can be seen by not only the first negative 6 month GOFO rate since last summer’s much publicized gold shortage when China was gobbling up every piece of shiny yellow rock available for sale,\u00a0but a 1 month GOFO of -0.1850%:\u00a0<\/a>the most negative it has been since 2001!<\/strong><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001 | Zero Hedge. The last time there was an systemic physical gold shortage was in July 2013. It is then that, for the first time in 5 years, the 1-month Gold forward offered rate, or GOFO, went negative.\u00a0We said: Today, something happened […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[374,921,647],"class_list":["post-1161","post","type-post","status-publish","format-standard","hentry","category-economics","tag-gold","tag-gold-shortage","tag-precious-metals"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1161"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1161\/revisions"}],"predecessor-version":[{"id":1162,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1161\/revisions\/1162"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}