After a volatile week of trading in key markets, today London metals trader Andrew Maguire told King World News that we almost witnessed a commercial signal failure in the gold market.
But first, below is a chart showing the price of gold (as reflected through the ETF GLD), after Andrew Maguire’s remarkable KWN interview on June 3rd:
Andrew Maguire: “In the past, the synthetic gold market players could always be relied upon to provide enough short cover for the collusive concentrated short positioning. In order to avert important trendlines and inflection points from being breached, officials could add unlimited synthetic supply in order to trigger a selloff…
Continue reading the Andrew Maguire interview below…
Andrew Maguire continues: “The naked long speculators have historically been easy to target. However, with the wholesale market rising up (sovereign bids at much higher price levels), it has locked out the ability for officials to rinse out sufficient size long speculator positions. And that now happens to extend below these large and rising aggregated physical support levels. This is a game-changer and why I have been going out on a limb on KWN since December 18 (with gold trading at $1,048) calling for gold in the $1,300s and the $1,400s and a reset to fresh new highs.
We Almost Witnessed A Commercial Signal Failure In The Gold Market
We came very close to a commercial signal failure last week. But I see this week’s options expiration defense as compressing the spring for a rally from a from a much higher and solid gold stair-step. And after officials settle options, a physically driven move higher is going to force commercials…To continue listening to Andrew Maguire’s remarkable KWN audio interview that has now been released CLICK HERE OR ON THE IMAGE BELOW.
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