Eric King:  “Give me an idea of the amount of tonnage being purchased on this decline.”

Maguire:  “If you look at the daily tonnage being drawn down, we’re (now) looking at 20 to 30 tons per day of real allocations in dollar and euro gold.  Shanghai delivery volumes have been extremely large as well on a daily basis.  That’s just what we see clearing here through London and Shanghai....

Continue reading the Andrew Maguire interview below...


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“There is a lot of direct purchasing also going on.  What I’m going to say to you is that it’s certainly in the 100+ ton area (this week alone).  And that’s real physical (gold).”

Eric King:  “Andrew, I know you were talking about just this week alone on the smash and what kind of gold central banks were taking out of the gold market, but what about when we expand that into the last 3 or 4 weeks?  What are we looking at there?”

Maguire:  “There’s at least 225 tons that have been drawn down.  That is a huge amount of physical (gold).  That’s gold which has to be found (in order to be delivered), that’s probably got (existing) claims on it.  But as I said to you before, there was a crisis situation, and I think they were damned if they did and damned if they didn’t.  They were forced to take this price down simply because the price was about to break out.

We had a very credible rumor of another CME broker dealer going down.  This was before (gold) was looking to break $1,700.  Who did this (takedown) help?  Anyone who was short bought a bit more time.  And anyone who was foolish enough to increase their margin long position was taken out at a better profit by the shorts.”

When asked about bids in the physical gold market Maguire responded, “It is exponentially increasing.  The central banks and the sovereigns look at exactly the same information that we do.  They are looking at how much paper selling power is left, and in whose hands it is (weak or strong long and short positions). 

If they see the bullion banks at the lowest point of short positioning, and they see the managed money and the weaker hands holding the highest level of short positions, obviously they are in the market (accumulating large amounts of physical gold).

It really just needs to play itself out here.  The result is going to be violent because it is a bubble short position, meaning the market is shorted by weak hands beyond anything I have seen before.”

KWN has now released the audio and all three parts of the Maguire writtens interviews.  You can read the written interviews by CLICKING HERE.  You can listen to the eagerly anticipated audio interview by CLICKING HERE.

This is the first in a series of interviews with Maguire lifting the curtain on what is going on behind the scenes in the gold and silver war.  The write-ups are only a small portion of what Maguire had to say in his extraordinary audio interview. 

© 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 interviews with Marc Faber, James Turk, Bill Fleckenstein, Egon von Greyerz, Felix Zulauf, John Hathaway, Gerald Celente and Eric Sprott are available now.  Also, be sure to listen to the other recent KWN interviews which included Art Cashin, Michael Pento, MEP Nigel Farage, Michael Belkin and James Dines by CLICKING HERE.

Eric King

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© 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.

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