BackwardationIt appears gold went into backwardation on Friday. The Feb. contract closed at $1089, while the spot price closed at $1091. I'm surprised that no one has made mention of this. Could this signal that the price has bottomed and we could soon be on the way back up? Any thoughts? I have never done a study to see how often backwardation in the gold price occurs, so this may be a semi-regular event and therefore may not mean anything, or if this doesn't happen too much it may signal a reversal in the gold price.