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Backwardation possible if Chavez takes gold delivery

CommodityOnline | August 19, 2011 | 5:32 pm Precious Metals Europe Latin America Gold 

If President Hugo Chavez of Venezuela actually takes delivery of an estimated 10 metric tons of gold, there could be an unusual development of backwardation in the futures markets, says Dennis Gartman, editor/publisher of The Gartman Letter.

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