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BIS smashed metals this week to avoid bad Q1 mark-to-market for gold derivatives, Maguire tells KWN
4:15p HKT Saturday, March 30, 2019
Dear Friend of GATA and Gold:
This week's smashdown in the monetary metals, London metals trader Andrew Maguire tells King World News, was engineered by the Bank for International Settlements to avoid a nasty first-quarter marking-to-market of gold derivatives held by bullion banks. Maguire adds that the smash pushed gold and silver futures into "actionable" backwardation and that strong hands are accumulating real metal at current prices. The interview is excerpted at KWN here:
https://kingworldnews.com/andrew-maguire-unprecedented-gold-silver-backw...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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