Gold price drop isn't sustainable with so much metal offtake, Maguire says


1:30p ET Friday, May 10, 2013

Dear Friend of GATA and Gold:

Today's dip in gold was used by central banks to obtain a bargain price on 40 tonnes of real metal, London metals trader Andrew Maquire tells King World News. Price suppression "cannot stick with this kind of volume coming through," Maguire says. "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."

And if you want only paper? Why not save yourself some time and just flush your money down the toilet?

An excerpt from Maguire's interview is posted at the King World News blog here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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