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China takes control of physical gold pricing by month end, Maguire says
5:26p ET Thursday, July 16, 2026
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program that China's physical gold market based in Shanghai and Hong Kong is ready to replace the "paper" gold system based in London and New York and, in effect, give gold backing not just to the Chinese yuan but also to the Russian ruble at the end of the month.
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Maguire says this is likely to trigger some sort of upward revaluation of gold in the West, since there are far more "paper" gold liabilities there than can be supported as real metal increasingly flows to Asia.
The program is 44 minutes long and can be seen at the Kinesis Money channel at YouTube here:
https://www.youtube.com/watch?v=6Zu_roIHpGU
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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