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Home > 1,000 tonnes in paper gold dumped today to help bullion banks cover, Maguire tells KWN

1,000 tonnes in paper gold dumped today to help bullion banks cover, Maguire tells KWN

Submitted by cpowell on Tue, 2016-10-04 14:55 Section: Daily Dispatches

2:56p ET Tuesday, October 4, 2016

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire tells King World News that today's smashing of gold involved about 1,000 tonnes' worth of paper gold.

"This is a desperate effort by Western officials to cover massive offside pre-Brexit over-the-counter short positions put on by their agent bullion banks near the $1,275 level," Maguire says, adding that the smash was timed for a trading holiday in China.

An excerpt from the interview is posted at KWN here:

http://kingworldnews.com/andrew-maguire-a-staggering-1000-tonnes-of-pape... [1]

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [2]



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Source URL: https://gata.org/node/16802

Links
[1] http://kingworldnews.com/andrew-maguire-a-staggering-1000-tonnes-of-paper-gold-rinsed-out-of-the-market-today/
[2] mailto:CPowell@GATA.org
[3] https://goldstandardv.com/news/2016/expansion-gold-standards-north-dark-star-high-grade-oxide-deposit-continues-intercept-56-2m-1-83g-aut/
[4] http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.html
[5] http://www.goldrush21.com/order.html
[6] http://tinyurl.com/zr4tjuc
[7] http://www.gata.org
[8] http://www.gata.org/node/16