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Bullion banks have covered shorts and are heavily long silver, Maguire tells LFTV
10:18p ET Friday, June 13, 2025
Dear Friend of GATA and Gold (and Silver):
In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire says the major bullion banks have covered their shorts and gone heavily long in silver and are now talking up their expectation of higher prices
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The BRICS countries are adding to physical demand for the metal and dips in the price will be shallow, Maguire says, adding that gold and silver are in the process of discovering their supply-and-demand prices for delivery of real metal as the price-suppression mechanisms of derivatives fail.
Maguire refers to CPM Group's "Bullion Banking Explained" report from February 2000 and notes that it is posted at GATA's internet site. It's here:
https://www.gata.org/files/CPMGroup-BullionBankingExplained.pdf
"Live from the Vault" is 35 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=5WzJJnkQ2-Q
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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