Maguire - Final Stages Of Historic Capitulation In Gold & Silver

遊戲慢慢走向尾段, 大家好快就可以見到完場 ! 可能是Martin Amstrong 口中的 2015 !

kingworldnews.com

Today London metals trader Andrew Maguire told King World News that what we are seeing in the gold and silver markets is the final stages of a historic capitulation.  Maguire also said there was a large buyer in the silver market.  Below is what Maguire had to say in Part II of a series of interviews that has now been released on KWN.

Maguire:  “Eric, we are really at the final stages of what is a historic capitulation point.  Of course we are going to see options and news event gaming continue, but it will be inconsequential in the big picture because the true supply/demand fundamentals will actually be determining a real price that is far less influenced by the synthetic dilution that we are seeing in today’s markets....

“Now, Eric, price discovery is finally moving to where the physical markets are.  And as these markets are springing up all over Asia and the Middle East, things are going to change.

Here in the West we don’ have delivery markets.  We have bank run casinos like the CME, Comex, where the game has been historically rigged by insider member banks.  And over time this has created massive dilutive price distortions that don’t anywhere near reflect the real supply/demand fundamentals.

If one only looks at the evidence, it’s right there for us to see right now.  The primary bullion banks are definitely exiting their propriety Comex positions.  And this is leaving the remaining open interest to be gamed by robots who are chasing declining open interest amongst themselves.  They are just running over any remaining real money.

... What sets this historic time apart from others and will insulate insulate investors from another wash and rinse in that price discovery process, is that price discovery is actually migrating to the physical markets.  And these large investors are not buying synthetic gold.  They are vaulting the real thing, well away from the shark infested Comex waters.  I give it until the first of the year before we see the first signs of a major derivatives blowup.

And, Eric, physical demand has been enormous these last few weeks.  Silver has had a very large physical buyer active in the last four weeks.  And we’ve seen an enormous 13,715,000 ounces, or 426 tons of silver added to the SLV ETF.  Now, Shanghai warehouse stocks have conversely reached an all-time record low at only 80.5 tons (of silver).

Yesterday we had reliable reports of a 21 ton gold purchase at the (London fix).  This is just a fraction of what we’ve been seeing being accumulated since gold broke through the $1,300 level on the 19th of August.  So sovereigns and central banks are accumulating all the way down, while paper longs throw in the towel. 

And this is why unleveraged physical market buying flies under the radar for so long, while leveraged players swamp the market with their synthetic supply.  And the trouble for these sellers, whether short or long, is the physical flow is now one-way, and it’s a non-return valve.  So watch as deleveraging plays out.”