Gold futures

Capturing Contango with Gold Futures Spread

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On September 21, 2023, I bought 1 October 27, 2023 expiry long Gold futures contract at 1,919.30 and sold 1 November 28, 2023 expiry short Gold futures contract at 1928.4. The difference between both legs is -9.1. To make any profit the spreads of the legs should be less than -9.1 by October 27, 2023. I have been observing Gold Futres for most of September and in fact, I already opened one such trade in my other stock portfolio, but the reason to open this particular trade comes as a push…