Today London metals trader Andrew Maguire told King World News that there is currently stunning amounts of euro gold physical buying taking place in London. Maguire also spoke about the staggering demand for physical gold elsewhere around the world. Below is what Maguire had to say in Part I of a series of interviews.
Maguire: “There is solid evidence of continued investment bar demand coming out of China, large Indian demand related to Diwali last week, and fully unreported, off-the-scale large euro gold buying that you don’t see reported anywhere. But it’s absolutely evident in the wholesale markets….
Continue reading the Andrew Maguire interview below…
“For the People’s Bank of China, the sovereigns, and those large buyers — the large wholesalers — demand ramps up on price dips. And Chinese investment bar demand (from the Chinese public) actually responds positively to rising prices. This week we saw large investment bar demand ramp up in China again, as it did last week and the week before.
It ramped up when the price broke back above $1,200. So on dips the central bank buying increases. On price rises investment bar demand increases. So you’ve really got a solid physical market in the current price environment.
But the other interesting thing that is unreported elsewhere that has been really surprising is the large euro gold demand. Someone — an enormous entity — is swapping very large amounts of euros for gold bullion. And they have been doing this for two weeks. It’s one of the reasons supplies have become tight.” KWN will also be releasing written interviews with billionaire Eric Sprott today. The incredible KWN / Maguire audio interview will be available shortly and you can listen to it byCLICKING HERE.
IMPORTANT – Andrew Maguire’s trading service has had staggering returns in the gold and silver markets since its inception. 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.
UPDATE – KWN has more interviews being released today.
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The audio interviews with Bill Fleckenstein, Rick Santelli, Rick Rule, Michael Pento, Paul Craig Roberts, Andrew Huszar, Andrew Maguire, MEP Nigel Farage, John Mauldin, Egon von Greyerz, Michael Belkin, and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.