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Sovereign gold buyers know how to play the paper game, Maguire tells KWN
9:22a ICT Saturday, March 24, 2017
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells King World News this week that manipulation of the gold derivatives market is well understood by sovereign buyers, who time their purchases accordingly.
"Competing central bank and sovereign buyers," Maguire writes, "know how to game the paper-centric events such as options expiry next week, where they also know that officials and insider commercial bullion banks are forced to defend billions of dollars' worth of accrued naked short derivative bets. This is when sovereigns who are seeking large tonnage buy. The resulting physical outflows provide observable clues that there is stress in the paper markets -- a growing bifurcation between the paper price and the physical price."
Maguire's comments are posted at KWN here:
http://kingworldnews.com/andrew-maguire-this-will-rock-the-gold-market-a...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
K92 Mining is producing much more gold than planned
Company Announcement
Wednesday, March 1, 2017
K92 Mining Inc. is pleased to report that mining production has shown a steady ramp up over the last three months with ore tonnes mined being over 50 percent above budget in January while contained gold ounces were almost 20 percent above budget.
The company mined more than 8,000 ore tonnes by February 24 and is on target to achieve 10,000 tonnes by month end, which is 40 percent above February budget. The increased ore production is in part due to significant lower-grade ore being identified outside the planned ore envelope, which was identified by our ongoing grade-control program, highlighting the importance and success of this program. ...
... For the remainder of the announcement:
http://www.k92mining.com/2017/03/k92-provides-operational-update/
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