London metals trader Andrew Maguire told King World news that hundreds of tons of physical gold was bought by Eastern nations in just the last 14 days. Below is what London metals trader Andrew Maguire had to say in Part II of a series of interviews that has now been released on KWN.
Eric King: “Andrew, I know there were large sovereign bidders in this market near the $1,300 level. By taking gold through that level, how much gold was lost to the cartel (of Western central banks)?”
Maguire: “When you look at the billions of dollars of instantaneous sales, you see a $2.5 billion sale, you see a billion dollar sale. You are talking hundreds of tons of paper gold being sold….
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