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Fed soon will have to drop gold suppression policy, Maguire tells LFTV
8:18p ET Saturday, April 6, 2024
Dear Friend of GATA and Gold (and Silver):
London metals trader Andrew Maguire, commmenting on this week's edition of Kinesis Money's "Live from the Vault" program with Shane Morand, says central banks have huge bids for physical gold just below the current market price and will raise their bids if the price moves up.
... Dispatch continues below ...
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Gold, Maguire adds, is already the primary mechanism of international "dedollarization" and gold already is being revalued informally by central bank purchases even as a formal revaluation may come in the next several months.
He says the Federal Reserve no longer has the metal to support its short positions in gold and soon will have to drop its longstanding price suppression policy. He expects gold prices to be much higher by the end of the year.
Maguire also believes that silver's breakout is imminent and will be sharper than gold's has been.
The program is 42 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=kkCpzxtFBYg
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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