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Considered undependable, Comex and LBMA lose business and paper racket ends by December, Maguire tells LFTV
9:35p ET Friday, August 22, 2025
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, speaking on this week's edition of Kinesis Money's "Live from the Vault" program at YouTube, says major participants in the gold market no longer consider the New York Commodities Exchange and the London Bullion Market Association dependable for delivering real metal and are taking their business to Asian exchanges where delivery is quick.
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Maguire adds that governments have begun to consider treating silver as a sovereign reserve asset like gold.
He believes that "paper" gold will be finished when the December gold futures contract closes at the end of November and U.S. bullion banks become obliged to comply with Basel III rules and stop selling metal they don't have.
The program is 41 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=-EF4H8X5Fik
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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