Monday, February 22, 2016

Andrew Maguire on Recent Developments in the Gold Market

Andrew Maguire is a well known precious metals trader who testified a few years ago before the CFTC about possible manipulation in the precious metals markets. In this new audio interview with King World News he updates some recent interesting developments in the global gold market. If you follow the gold market, this interview will be of interest. Click here to access the audio interview link.


Included in this interview:

- update on the cause of the recent strong move up in gold

- discussion on problems London is having sourcing enough physical gold to meet demand

- the startup of a new gold trading exchange which will bypass the London exchange and deal only in physical gold (not paper gold contracts)

- his projection for gold for the rest of 2016

- he explains why he thinks a major change has taken place in the gold market

Added note: Bloomberg runs this article on how negative interest rate talk is feeding demand for gold.

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