China’s Gold and Silver buying spree tightens physical supply [Video]

China’s gold and silver buying spree tightens physical supply

Andrew Maguire explores the marketwide implications of China buying up vast quantities of gold and silver. 

Andrew Maguire reveals China’s is making an unprecedented move into physical silver, while also securing huge quantities of gold doré bars from the region of Africa. The precious metals expert believes these developments are having a significant impact on physical supply and the paper markets.

China sources African doré bar supply

Andrew Maguire reveals China is directly obtaining huge quantities of gold doré bars, circumventing the LBMA bullion banks and refineries. According to industry sources, the People’s Bank of China (PBOC) is strategically frontrunning every available ounce of the raw material.

Andrew Magure reports the PBOC has secured thousands of  tonnes of raw supply at close to all-in global mine costs. As a result, the LBMA is losing out on the cheap mine supply they have relied on to suppress the gold price in the markets. 

China’s move into the physical silver market

Andrew Maguire has it on reliable information that China has aggressively moved into the physical silver market. According to Andrew Maguire’s sources, the nation is buying physical silver mine supply in very large size. 

The precious metal expert believes the unprecedented move is already tightening up wholesale supply. Andrew Maguire reports that wholesale dealers are already experiencing the effects. With dealers having their silver allocations cut, in a period of already very tight supply.