Massive Paper Gold Selling and Physical Gold Buying

“In the one hour into the London fix we saw a stunning 155 tons of paper gold sold. That took place in just one hour. The reason there is so much concentrated selling into the London fix is because it creates even more computer generated selling…. But the selling is now running on fumes. At this point nobody is selling except the weak hands. It is important for people to know that most of the margin calls are now fully completed, and the commercials are also buying everything on the tape that is being sold by the margin clerks. The central banks are also buying large amounts of gold as well. In that chaotic one hour time frame where we saw a remarkable 155 tons of paper gold sold, central banks stepped in and bought a staggering 55 tons of gold. You have to remember that is just what the central banks were buying here in London. Let me repeat that, in one hour central banks bought an astounding 55 tons of (physical) gold here in London. I want KWN readers around the world to understand that there is massive physical offtake in these markets right now. The reason price is declining is because Western governments have sanctioned leveraged paper selling by their agents, the bullion banks, in order to drive the price of gold down. What people are seeing right now has nothing to do with the physical market. In fact the physical market is literally on fire right now …. I guarantee you the bullion banks are long gold right now in their own trading accounts.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/15_Maguire_-_155_Tons_Of_Paper_Gold_Sold_In_Just_One_Hour!.html

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