The dollar is sinking like a stone. Paper gold and silver are rallying and above their major moving averages. Physical metal demand continues to accelerate worldwide. What a perfect time to get an update from our friend, Andrew Maguire.
This was recorded Friday morning US time, between 11:00 amd and 11:30 am EDT, so it's about as current as you can get. Over the course of this discussion, Andy addresses:
- the changes to the London Fix process
- unallocated London gold still affects price but the coming Allocated Bullion Exchange will have a significant impact
- how London is still able to settle physical trades and the news this morning that England showed a net export to Switzerland of nearly 100 metric tonnes for the month of March
- in the absence of published GOFO, how Andy computes tightness and/or backwardation in the gold market
- his current price targets and projected resistance levels
I think you'll find this podcast to be great fun and quite informative. Today's action in the metals and the dollar sets us up for a very interesting end of the month. This "interview" could not have come at a more opportune time.