Gold's 6 month lease rate has plunged Friday from +0.2% to -0.6%, a massive and unprecedented drop, bring the 6 month rate to its lowest of the entire gold bull market!!
Certainly an imminent debt default of a Euro member such as Greece or Italy could be big enough to cause a movement of this magnitude, likewise an imminent default of a major exchange such as the LBMA or COMEX would be enough to cause a plunge in rates of this order. We welcome our readers' thoughts as well as to what could be the cause of this sudden and massive plunge in short term gold lease rates.
*Update: As of Sunday morning the plunge in the 6 month and 12 month lease rates have been removed from kitco's charts. So was this simply a data entry error on Friday by Kitco that they merely fixed on Sunday morning?
Unfortunately we did not save the screen shots last night. Thankfully, an SD reader did save a screen shot of the rates plunging to -0.6%: