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On LFTV Maguire uses Comex price charts to show Fed's interventions at options expiration
12:03p ET Saturday, July 27, 2024
Dear Friend of GATA and Gold:
In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire shows with Comex price charts how the Federal Reserve has been intervening to knock the gold price down in advance of futures option expiration dates.
Maguire adds that India is not only repatriating gold from the Bank of England but also trying to repatriate gold from the Federal Reserve Bank of New York. The latter move, Maguire says, may cause a big problem insofar as the New York Fed may no longer have the metal on hand and may have to go into the market to get gold for repaying India.
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BRICS countries, Maguire says, are eager to acquire gold in anticipation of the launch this year of a gold-backed trading currency.
The program is 49 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=VDjRZG47kEU
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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