kingworldnews.com
Today
whistleblower and London metals trader Andrew Maguire told King World
News that KWN readers around the world should ignore the pullback in the
gold market because the price of gold will surge above $1,400 on the
next leg higher.
Andrew Maguire: “Whenever we see such a synthetic divergence develop between the wholesale physical markets and the paper-centric non-delivery markets,
it allows the commercials (and central planners), who have exposure to
the physical markets, to not only take the short side of these naked
longs, but to do so with impunity…
Andrew Maguire continues: “Bear in mind that the bulk
of these naked short commercial positions were only able to be added
above rising aggregated physical interest levels, but exponentially
larger in defense of the Rubicon line at $1,308, a breach of which would
threaten what is known as a ‘commercial signal failure.’
We came close to triggering this commercial signal failure but without
the close proximity of an underpinning physical market, a short term
price gap had been opened which was easy for commercials to fill on the
downside.
Ignore Pullback, Gold To Hit $1,400 On The Next Leg Higher
That is exactly what we have just witnessed — a price gap that closed on
the downside, and as is par for the course, we now have the same hot
money rinsed and wrong-footed, which is the polar inverse situation of
what was occurring near $1,300. The hot money is now overshooting to the downside while the commercials are profitably covering all the naked shorts they added. Commercials are also going long to hedge physical exposure at these levels. This
action is no more than healthy backfilling with a fresh, higher stair
step being cemented for a sustainable move into and eventually through
the $1,300’s.
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