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Raid on gold and silver had 'surgical precision' but won't stop their rise, Maguire says
2:09p ET Thursday, August 12, 2020
Dear Friend of GATA and Gold:
Tuesday's attack on gold and silver futures prices was a "rigged selloff" aimed at speculative longs with "surgical precision," London metals trader Andrew Maguire said yesterday in an interview with Kinesis Money's Shane Morand, but it won't change the trajectory of the monetary metals.
The instigators of the raid violated futures position limits, Maguire adds, and the CME Group, operator of the New York Commodities Exchange, is "pandering" to the big bullion bank shorts that can't deliver metal.
... Dispatch continues below ...
Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System
Company Announcement via Globe Newswire
Thursday, July 2, 2020
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.
The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:
http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4
In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...
... For the remainder of the announcement:
https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant...
Maguire adds that the Bank for International Settlements is trading real metal for unallocated -- imaginary -- metal to help bullion banks meet the delivery claims giving them trouble.
Central banks and bullion banks, Maguire says, are aiming to move gold prices up to $2,500 and silver prices up to $35 soon but had to strike the market on Tuesday because prices were rising too fast for them.
The interview is 24 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=kZcrB489LSc&feature=youtu.be
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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