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November spike in BIS gold swaps was an emergency intervention, Maguire says
8:30p ET Friday, December 16, 2022
Dear Friend of GATA and Gold:
Speaking on Kinesis Money's "Live from the Vault" program this week, London bullion trader Andrew Maguire says the Bank for International Settlements' nearly 100-tonne increase in its gold swap position in November --
-- likely was part of an emergency intervention to contain the monetary metal's sharply rising price.
Nevertheless, Maguire adds, the structure of the gold market is substantially bullish entering the new year.
Maguire's comments are 42 minutes long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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