Andrew Maguire Explains Gold and Silver’s Recent Price Volatility

• The Valuable Investor
  Despite massive economic tailwinds, an environment perfect for precious metal price appreciation, and unheard of physical requests gold and silver have been in a decline since August 2020. Andrew Maguire has some insight about what has been leading the extra tough recent couple of weeks. Andrew Maguire is a British commodities trader and whistleblower. He presented evidence to United States regulators alleging that fraud had been committed, and that prices in the international gold and silver markets had been manipulated. No regulatory or legal action has been taken as a result of his accusations.
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  In an interview with CBC aired in April 2013 Andrew Maguire described how mysterious traders, allegedly working for bullion banks JPMorgan and to a lesser extent HSBC, waited for most of the major markets from Shanghai to London to be closed then concentrated their dealing on COMEX. He explained how traders were trading virtual or electronic silver anonymously using algorithmic trading systems “moving in and out of the futures markets in the blink of an eye. Four hundred contracts a second, each contract represents 5,000 troy ounces of silver.” Maguire described a sudden and massive wave of selling of up to 45,000 contracts which drove the price of silver down. “Investors big and small try to cut their losses and sell as the price drops.” People who had invested heavily lost everything. Then the mysterious seller just as suddenly started buying the electronic silver again. The price of silver soared as did profits for the seller. 45,000 contracts with a profit of $80,000 per contract totaled $3,600,000,000 for the mystery seller.

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