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Maguire:  “The West is taking advantage of this one week period where the Chinese are on holiday to smash the price of gold.  This one week Chinese holiday just started today.  But this decline is setting up a huge amount of buying.  The Asians are buying physical gold like crazy into this takedown....


Continue reading the Andrew Maguire interview below...




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“It’s also important to note, Eric, that the Chinese agents are not taking the week off here at all.  Chinese agents are in this market as we speak aggressively buying into this decline in the price of gold.  What we are seeing right now is the Fed intervening in the gold market.  But, again, although China is on holiday, the PBOC (People’s Bank of China) is not.  Meaning, they are in here aggressively buying physical gold on this takedown.


Remember, these Fed-gamed fix prices (in London) result in massive physical buying not just through London, but also direct from producers to the central bank.  And it’s not just the Chinese who are in here buying.  Other central banks are in here buying this dip as well.


Although the naked short sellers are targeting the prior lows, I think they will find it incredibly difficult to meet their price objective based on the massive amount of physical buying we are currently seeing.  Anyone who is looking to buy physical gold and silver should be doing what the Chinese and others are doing here which is aggressively buying into this paper takedown in price.


From current levels on down in gold, in terms of the price, the Chinese and other central banks will only increase their physical purchases.  For long-term investors, this is the time to do what the big money is doing, and that is accumulating physical gold into this price break.  For investors, don’t be scared by this price action because it has nothing to do with the longer-term trend for gold.


What we are seeing today is purely paper driven.  So short sellers are taking the market down, but these paper positions will have to eventually be covered.  This is not physical selling, it’s paper selling -- that’s the key.  When you see massive amounts of short selling, it’s time to be buying.  While prices may continue lower in the short-term, this will be one of the last great opportunities for those looking to accumulate physical gold and silver.”


Andrew Maguire’s trading service has returned over a staggering $134,000 for each and every (single) contract traded in the gold and silver markets over the past 16 months.  For those who would like to get more information on Maguire’s incredible trading service and to sign up you can do so by CLICKING HERE.


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Robin Griffiths, Jim Grant, Gerald Celente, William Kaye, Dr. Paul Craig Roberts, Chris Powell, Michael Pento, Eric Sprott, Andrew Maguire, Grant Williams, Bill Fleckenstein and Egon von Greyerz are available now. Also, other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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