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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (128956)	7/16/2022 11:21:43 AM
From: Goose94	Read Replies (1) of 203382

Gold: Official intervention in the gold futures market to suppress the monetary metal's price is making conversion of gold contracts to physical metal immensely profitable, London gold trader Andrew Maguire says. In his weekly interview with Kinesis Money's Shane Morand, Maguire says the contracts are being turned into physical delivery in London via the New York Commodities Exchanges "exchange for physicals" procedure, with the gold then sold onward in other markets at signifcantly higher prices. Maguire doesn't think this can continue for long. Comex prices for gold and silver have diverged so much from prices for "spot" purchases that the futures market no longer is reliable for hedging physical transactions, Maguire says. That is, he says, Comex prices don't represent the prices of actual metal. The interview is 53 minutes long and can be viewed at YouTube here: Cris Powell, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

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