11. It is common for copper prices to be in backwardation-- that is, when spot prices exceed forward prices . 12. In New York, the three-month forward price of gold bullion fell US $ 1.30 to US $ 313.20. 13. Forward pricing is the most common.14. To prevent the exploitation of backward pricing, the SEC issued Rule 22c-1, requiring forward pricing of mutual fund transactions. 15. The term is sometimes applied to forward prices other than those of futures contracts, when analogous price patterns arise. 16. Murphy said that traders and marketers _ not independent economic analysts _ set the forward price curves for power. 17. "' Contango "'is a situation where the forward price ) of a commodity is higher than the spot price. 18. In words, the standardized moneyness is the number of standard deviations the current forward price is above the strike price. 19. Hence, a key question is whether or not the current forward price actually predicts the respective spot price in the future. 20. On the London Metal Exchange, the benchmark three-month copper forward price closed up $ 27 at $ 2, 018 a ton.
