You are here
Gold revaluation is already underway in the open by the BRICs, Maguire tells LFTV
9:27a ET Saturday, October 5, 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 outlines what he says are the many bullish drivers of the gold price.
He says Chinese central bank buying remained strong this week though retail buying was absent because of the "Golden Week" holidays.
Indian central bank buying remained strong as well, Maguire says.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Nickel Announces Biggest Intersection Yet, Making Major Advancements at the Lion Zone
Company Announcement
Thursday, October 3, 2024
TORONTO -- Power Nickel Inc. (TSXV: PNPN, OTCBB: PNPNF) announces the second set of assay results obtained for three more holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery.
"With one of our best holes to date, it is becoming more evident that the Lion discovery is substantially bigger than we originally envisioned," CEO Terry Lynch said. "Taking education from the holes drilled and announced earlier this week, we went further west and much shallower and struck the zone at 118 meters. This is very encouraging for lots of reasons: size of zone, grade, depth of intersection, and the move westward."
Highlights:
PN-24-069 returned:
-- 17 meters of 0.28 g/t Au, 9.52 g/t Ag, 0.93 % Cu, 7.19 g/t Pd, 1.66 g/t Pt and 0.05% Ni, including 6 meters of 0.42 g/t Au, 19.33 g/t Ag, 0.96 % Cu, 11.68 g/t Pd, 3.69 g/t Pt, and 0.04% Ni.
-- 5 meters of 0.35 g/t Au, 7.80 g/t Ag, 1.78 % Cu, 9.69 g/t Pd, 0.74 g/t Pt, and 0.09% Ni. ...
... For the remainder of the announcement:
https://pro.ceo.ca/@newswire/power-nickel-announces-biggest-intersection-yet-major
Using price charts, Maguire says central bank buying is steadily driving up the gold price in calculated stair steps that prevent the physical market from becoming too disorderly.
Now that the BRICs nations have, collectively, more gold than the United States, Maguire says, they have already taken control of the gold price and a massive gold revaluation is already underway in the open.
Maguire's observation echoes the observation made in April 1974 to U.S. Secretary of State Henry Kissinger by Assistant Undersecretary of State Thomas O. Enders -- an observation often cited by GATA -- that whoever has the most gold can control its price and, in doing so, control all financial valuations in the world. This, Enders told Kissinger, is why the United States must not let any group of nations restore gold to the world financial system:
https://www.gata.org/node/13310
But that restoration by gold-acquiring nations can't be stopped now.
Maguire says that the Bank for International Settlements ended its support of U.S. gold price suppression policy in 2023 when it classified gold as a "Tier 1" asset, equal to cash and U.S. Treasury bonds, an asset against which banks no longer were required to hold collateral.
Most major central banks, Maguire says, are planning for the gold price to reach $3,000 soon. He adds that there aren't many gold traders left who have not figured out U.S. gold price suppression policy and tactics and who can still be suckered by it. As a result, Maguire says, the New York Commodity Exchange, a futures market that has been the primary mechanism used by the U.S. Federal Reserve to manipulate the gold market, is being drained of its physical gold.
This week's episode of "Live from the Vault" is 42 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=edab3Njpyog
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.com/powellgata/
* * *
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:
* * *
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:
