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Major bullion bank has exited unallocated gold, London trader Maguire says
9:49p ET Friday, February 11, 2022
Dear Friend of GATA and Gold:
London bullion trader Andrew Maguire, interviewed this week by Shane Morand in Kinesis Money's "Live from the Vault" program, says a major LBMA-member bullion bank has just closed all its unallocated gold positions under pressure of the "Basel 3" regulations for gold and silver trading by banks.
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Maguire says that the gold exchange-traded fund GLD and the silver exchange-traded fund SLV are the only mechanisms left to sustain the "paper" gold and silver trade. Anyone who invests in GLD and SLV, Maguire says, is helping to suppress monetary metals prices.
Morand's interview with Maguire is 32 minutes long and can be seen at YouTube here:
https://www.youtube.com/watch?v=yDkEsGF42zc
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@ATA.org
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