英语语法分析

On December 2, for the first time in history, gold reached backwardation.

12月2日，历史上首次出现黄金现货溢价。

I consider gold's backwardation as a leading indicator to a dramatic increase in prices.

我认为黄金的现货溢价正是黄金价格显著上涨的一个领先指标。

Contango is the normal relationship between the spot price and the futures price and is the opposite of backwardation.

期货升水是现货与期货价格之间的正常关系。