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Maguire: A bear market only in paper gold, a bull market for real metal

Section: Daily Dispatches

1:20p ET Friday, May 17, 2013

Dear Friend of GATA and Gold:

Reports of a "bear market" in gold are bogus, London metals trader Andrew Maguire tells King World News today, citing several examples huge offtake of real metal and conversion of paper claims to real metal.

Long-term money, Maguire says, "is not fooled by the paper markets. The picture is not as it seems. So this 'bear market' is 100 percent in the virtual market. Yet this underlying physical market has diverged into a full-fledged 'bull market' as evidence by hard, official data showing the strongest physical demand in 18 months."

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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