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Dear Sotolo,
Read some of Robert Peston's books (BBC Business editor) on what goes on in the big banks and in the markets or listen people from all over the world on the BBC World Service about the hardships caused to communities and indeed the damage caused to our planet brought about by the huge and rapid price fluctuations (or manipulation) caused by placing future buy and sell contacts of all in many cases as yet non-existent and never delivered commodities on the Comex by trading desks .
Whether you call it it manipulation or intended erratic or high speed fluctuation of prices it is a fact and the markets and banks make huge amounts of profit as a result including from panic trading!
So it is certainly not a conspiracy theory it is fact not fiction, open your eyes and don't be afraid to speak up.
Mistakenly, just as I once did most people think that most of the money made by the big players banks is from their trading expertise on the market, yet it isn't, they make far more from the exorbitant fee's and trading costs sometimes charged twice, even more times over on every trade.
Don't be worried about offending Kitco they are a big organisation and will likely welcome my email and they are quite able contact all concerned including me should they so wish.
I have also copied in Andrew Maguire and Centamin.
Lets have a debate on the issue and hear these experts substantiate some of the statement's they put out which in the main are intended to influence the market and investors decisions which aren't always in the retail investors best interests!
Tibbs
Dear Tibbs don’t shoot the messenger, I appreciate newspapers that still report both sides of a story, bulletin boards with different views and that Kitco still does this. I have been reading reports from a number of banks and commentators that have suggested gold is heady and will fall back much as she describes. It is healthy that they do as it means there could be further to go. The market is made up of buyers and sellers, some follow and believe in Maguire, and conspiracy theories others, also here, don’t instead believing in supply and demand, for instance citing increased Chinese buying for the rise. Some think there is insufficient gold and a manipulated price, others look for who is buying and selling and why. I certainly don’t know which way gold will go, nor do pundits. My economic knowledge along with the likes of Gnome etc here believes the financial situation will ultimately push gold higher. So anyway thanks to Kitco for reporting ABN Amro’s report, and maybe write to its authors at the bank not Kitco whose broad reporting is much appreciated by some
17th April 2024
Re https://www.kitco.com/news/article/2024-04-16/abn-amro-maintains-2000-year-end-price-target-even-gold-trades-near-record
Dear Kitco News Team,
I feel that this article is not entirely accurate and may be intended to mislead or cause panic amongst holders of gold and silver bullion.
I am long term investor in gold miner Centamin and a friend of Andrew Maguire a long established and experienced London gold trader.
Andrew has for many years tried to educate investors and make known to a wider audience the price manipulation of precious metals on the Comex market by means of leveraged paper contracts and in view of this I would like to express my absolute disagreement with Georina Beole's statement that there is "No shortage of gold".
Georgina is either misinformed,or for whatever reason attempting to hide the true facts by failing to explain that the price of physical precious metals bullion would be much higher were it not for the suppression brought about by the selling of huge paper contracts by the big players trading desks of as yet non existent gold and silver on the Comex markets.
Like many other investors I hold Kitco and it's journalists in high regard and follow the Kitco channel on a daily basis for what I hoped to be unbiased and truthful gold and silver markets information.
So in view of this and on behalf of many other Kitco followers I would like to challenge Georgina Beole to substantiate her claim that there is a shortage of physical gold bullion in a video debate with Andrew Maguire and any other well informed participants.
Whilst it may be that the price of gold is brought down to nearer $2000 by December by the manipulation achieved by paper gold contracts selling on the Comex it certainly won't be due to any surplus of physical gold bullion!
I shall be copying in Andrew Maguire to this email and also making other investors aware of it on social media and other relevant forums.
I look forward to your response.
Yours Sincerely