Turk: Gold Already Back in Backwardation

"The big news here in London, Eric, is that gold slipped into backwardation once again.  The previous backwardation ended here in London on Monday, when the US was closed for a holiday.  It looked like a concerted effort by the central planners to put gold and dollar interest rates back into their normal relationship.... But this artificial condition could not hold because the demand for physical metal is just too strong. So gold's 1-month forward rate against the dollar is once again negative. ''