On "nominal highs" and forward curves

CNBC is fond of citing "nominal highs" when silver, gold, crude, or any commodity for that matter, reach new levels.  What they fail to realize, perhaps out of ignorance (my guess), or because it's a watered-down poor excuse for a financial news network, is that the back of the curve is well bid above the front month prices always quoted in financial media.

If $1580/oz scares people, $1750 would send them into paralysis. 

 

I used the futures calendar abbreviations for the expirations on the chart of the curve.