Maguire - Gold War Heats Up As Stunning Events Taking Place

"On the heels of some wild trading action last week, London metals trader Andrew Maguire spoke with KWN about the stunning events taking place as the gold war heats up, as well as some extraordinary information about what to expect in the gold market going forward.  Below is what Maguire had to say in this tremendous interview.

Eric King:  “Andrew, has there been a lot of tonnage of gold taken out of the market on this recent weakness?”

Maguire:  “Yes, absolutely....

“I know that the wholesale markets are very strong.  And I can say that (in the month of) October, we are still evidencing 180 to 185 tons (of gold) a month coming out of Shanghai.  So that’s very, very strong.

Obviously when you get price discounts like this, wholesale demand rapidly increases.  I think that we would see sovereign and central bank demand certainly coming in in the low $1,300s here -- anticipating that this might be a possible bottom. 

If there was any breach of $1,300, it would be short-lived.  As we’ve discussed before, central bank and sovereign buying ramps up exponentially once we ever cross that line.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/3_Maguire_-_Gold_War_Heats_Up_As_Stunning_Events_Taking_Place.html