Definition
When a futures price is higher than the current spot price.
The story
Storing gold until December costs money, and so does tying up your cash. That's why December gold traded about $22 above spot on Oct 14, 2026. That gap is contango, and it's normal for gold.
Why markets watch it
It explains why futures and spot prices don't match.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms