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Eric King:  “Andrew, what about the physical market (for gold)?  What are we seeing in terms of tonnage being taken out of the market today?”


Maguire:  “When we crossed $1,445 (in gold) today, we knew there were some sovereign orders that had been sitting out there for three weeks, waiting for a fill....


Continue reading the Andrew Maguire interview below...




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“Their patience was rewarded today and that was some serious tonnage, at least 40 tons (of physical gold purchased).  This is 40 tons of real physical (gold). 


What it is doing is insuring that the bullion banks are taking the long side of this hot money (shorts) chasing price to zero.  Because there is a lagging effect, we may see this (downside move) carry through until Monday, but I absolutely doubt that it can extend beyond that.


This cannot stick (the downside move) with this kind of volume (on the physical buy side) coming through.  I saw premiums in Shanghai this morning at close to $26.  That’s outrageous.  The Mumbai premiums are through the roof.  If you want physical today, you are going to have to pay a premium price for it.


So we are all seeing the same picture, massive delays and premiums through the roof, and yet the paper price diverging.  It’s a historic time, and I think this is a time that we will look back on and wish that we were in longer (more aggressively positioned in the sector).”


IMPORTANT - Andrew Maguire’s trading service has returned a staggering $98,715 for each and every (single) contract traded in the gold market over the past 12 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.


This is part I of a written interview series which will be released within hours and it is only a small portion of what Maguire had to say in his extraordinary audio interview.  The KWN audio interview with Andrew Maguire is available now and you can listen to it 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 This material may not be published, broadcast, rewritten, or redistributed.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 James Turk, Andrew Maguire, John Hathaway, John Embry, Dr. Paul Craig Roberts, Jean-Marie Eveillard, Eric Sprott, Gerald Celente and Nigel Farage are available now.  Also, be sure to hear the other recent KWN interviews which include Art Cashin, Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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