7:42a ET Saturday, October 4, 2025
Dear Friend of GATA and Gold:
The U.S. Federal Reserve is the only major entity still running short positions in gold and silver, London metals trader Andrew Maguire says in this week's edition of Kinesis Money's "Live from the Vault" program.
Maguire adds that, as your secretary/treasurer and others long have speculated, the bullion banks nominally carrying short positions in the monetary metals are actually just executing Federal Reserve positions. "No bullion bank is short for its own book," Maguire asserts.
... Dispatch continues below ...
... ADVERTISEMENT ...
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars.
To learn more, please visit:
http://www.goldmoney.com/?gmrefcode=gata [1]
Maguire says that while the London gold market still might seem to be trading more gold than Shanghai's, most of the London trading is "paper" gold -- derivatives -- while all the gold trading in Shanghai is actual metal for quick delivery. China, Maguire says, has essentially taken over the real gold market.
As for the prospects for the monetary metals, Maguire notes how this week's dips in gold and silver prices in the West were bought and reversed within hours by buying originating from Asia. He dismisses concerns that the metals are "overbought." Rather, he contends, they are oversold by a central bank that doesn't have any and will have to keep covering short positions at higher prices.
This week's "Live from the Vault" is 40 minutes long and can be viewed at Kinesis Money's YouTube channel here:
https://www.youtube.com/watch?v=Q9x-scH5ltg [2]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [3]
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/ [4]
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
https://tinyurl.com/3xt6uw66 [5]
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
http://www.gata.org/node/16 [7]
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png [8]
