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Basel III's July 1 application in U.S. will reduce gold market manipulation, Maguire says
1:07p ET Friday, May 2, 2025
Dear Friend of GATA and Gold:
U.S. banks will have a much harder time manipulating gold prices in the futures markets when Basel III regulations start applying to them on July 1, London metals trader Andrew Maguire says in this week's edition of Kinesis Money's "Live from the Vault" program.
Pricing power in the gold market has already shifted from the New York Commodities Exchange to Asia, Maguire says, and will shift even more after July. Even now, Maguire says, China has been using smashes in the futures market to acquire as much physical gold as is available.
The program is 45 minutes long and can be seen at YouTube here:
https://www.youtube.com/watch?v=CNNNmKydlQU
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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