Back in June, well respected gold analyst Andrew Maguire did an interview with King World News in which he intimated that sometime in early July a number of huge buyers would be coming into the gold market to initiate huge purchases that would send the price of gold much higher.
Eric King: “This summer surprise that you say is in front of us in the gold market, Andrew, I know you can’t say specifically what that is, but can you give a hint at what is in front of us that’s going to be the shocker in 26 days?”
Andrew Maguire: “What we are going to see is a massive amount (absolutely enormous tonnage) of physical gold buying coming in and it’s completely unexpected and unanticipated.” King World News note: Again, this portion of the tape was stripped out of Maguire’s KWN audio interview by some unknown entity. What is interesting is that some entity did not want that portion of the audio interview to be heard by the KWN global audience, which includes key government officials from across the globe. All we can say at this point is that this summer surprise is obviously very troubling to the Federal Reserve, Bank for International Settlements, and other Western central banks involved in the paper manipulation of the gold market because it comes at a time when the physical gold market is already extremely tight.
Yet in leading up to this deadline event, the gold price has been shelled by numerous sell orders and even a 'fat finger' event that saw someone or something (computer algo) dump $2 billion worth of naked short contracts into the market despite the fact that the dollar has fallen over 2% over the past three weeks.
Now on July 5 Maguire tweeted out an update to his forecast that the planned infusion by large players has been delayed just a bit, and that he will have more information to share within the next 48 hours.
In the meantime, gold continues to remain above the $1200 support level and institutions bent on driving down the price continue to control the paper markets even as interest rates are being hiked, the dollar is falling, and the economy moves even more into recession.
Disclaimer: I am just a bot trying to be helpful.
scary
I look forward for his update in 48 hours. I hope for him that he is right with his forecast.
I'm not holding my breath.. I've heard loads of predictions of higher prices from Harvey Organ, Bo Polney, Jim Willie and even Clif High. But the paper market still controls the price day in and day out
I guess we'll just have to wait and see
Clif has made some great predictions in crypto, but has been miserable on PMs. His latest reports have completely backed off of price predictions or any short-term bullishness in either gold or silver. He's capitulated. Might be a buy signal, but also indicative of the cabal's domination.
I would agree with your analysis and yes i've been topping up on metals in this dip :)
Another failed prognosticator. I hope he's right, but this is getting old. The cabal remains fully in charge of the paper price, and it seems as though nothing short of a COMEX/LBMA collapse will change this fact. I still like PMs, but have no interest in chasing short term predictions - normally a sucker's bet.