In this week’s Live from the Vault, Andrew Maguire explains how gold&#x27;s status as a globally recognised reserve asset is now shining a direct spotlight on silver&#x27;s undervaluation, as central banks accelerate their conversion of dollars into physical gold. With COMEX open interest at historic lows and a persistently high Shanghai silver premium exposing Western markets&#x27; inability to deliver, the precious metals expert outlines why he sees a physically driven repricing of gold and silver as inevitable. Send your questions to Andy here: https://www.speakpipe.com/LFTV Timestamps: 00:00 Start 01:28 COMEX open interest falls as institutional exodus to physical markets grows 05:06 Yuan-to-gold convertibility and the end of dollar-settled pricing 12:34 Central banks cut Treasury holdings as de-dollarisation accelerates 17:11 China&#x27;s market reopening triggers immediate gold and silver rally 21:17 Silver coiled for breakout as PBOC absorbs global supply 28:57 London silver benchmark loses grip as Shanghai premium persists at 13% 32:31 COMEX May silver deliveries exposed at mismatched prices Sign up for Kinesis on desktop: https://kinesis.money/mr-k-gold-savings/ Download the Kinesis Mobile app - available App Store and Google Play: Apple: https://kms.kinesis.money/signup Google: https://play.google.com/store/apps/details?id=com.kinesis.kinesisapp Also, don’t forget to check out our social channels where you can stay up to date with all the latest news and developments from the team. X: https://twitter.com/KinesisMonetary Facebook: https://www.facebook.com/kinesismoney/ Instagram: https://www.instagram.com/kinesismoney/ Telegram: https://t.me/kinesismoney TikTok: https://www.tiktok.com/@kinesismoney The opinions expressed in this video by Andrew Maguire and any guest are solely their own and do not reflect the official policy, position, or views of Kinesis. The information provided is for general informational purposes only and does not constitute investment advice, financial advice, or any other type of professional advice. Viewers are encouraged to seek independent financial advice tailored to their individual circumstances before making any decisions related to the gold market or other investments. Kinesis does not accept any responsibility or liability for actions taken based on the content of this video.

Gold’s HALO Shines Spotlight on Silver  - LFTV Ep 271

Kinesis Money

# Full Transcript

**Podcast:** Kinesis Money

## Transcript

Both currencies are one-to-one backed by physical gold. And here's the point, they can be tokenized, held, collateralized or exchanged at par for physical gold. They now have to keep printing while we crash. We've got this ticking time bomb. Talking gold with the one and only Andrew Maguire. Welcome to Live from the Vault. Don't get caught up.

Welcome to Live from the Vault brought to you by Kinesis Money. And we are glad that you've joined us here today. You're going to like this episode. You know, Live from the Vault is a show that goes way beyond the headlines to uncover the truth about the precious metals industry. And joining us today is Kinesis' very own world-renowned whistleblower and precious metals industry expert, Andrew Maguire.

And this week we're going to be answering more questions from our Live from the Vault community members. So keep those questions coming in. All you got to do is just look at the description, click on that link. You can record your own question for Andrew and you never know, it might be even chosen to answer right here on Live from the Vault. So let's head over to the UK and talking gold with Andrew McGuire. Hey, now, Andrew, in our last episode, this was awesome.

You drew our attention under the, what was it, the fog or the war fog of volatility. And you were talking about the COMEX is becoming less and less relevant as an actual price setter. To help ask us here, we've got a lot of questions coming in here, but to help answer some fresh subscriber questions, what are you seeing both in the short term as well from a macro perspective there in the market? Well, great to be with everyone.

Thanks, Shane, for getting the questions organized. Yes, look, yeah, I guess what we've been really trying to draw attention to is the final exit of the large gold and silver traders and investors who've ditched their LBMA COMEX derivative gold and silver positions completely into physical gold and silver exchanges.

This is a huge dynamic shift, because it includes the producers, the refiners, the institutional hedges that absolutely require a real supply demand price to actually to function correctly. And while we've tracked the COMEX open interest evaporating into historical all-time low participations, we've showed the chance of that. That's continued since then.

This exodus has largely gone unnoticed because into the LBMA, CME, that side of the paper to physical unwind process, that's 100 to 1. That's 100 ounces of paper gold to 1 leveraged. And then, of course, and it's also designed for cash, not for delivery.

Whereas the unleveraged, what it sort of meets up against is the unleveraged 100% physically backed. And that's the SGE governed exchanges, strictly physical. You have to have physical bars to offer it for sale. You have to have a physical bar to take delivery. And that's where the real money now operates, understandably.

And it requires a real-ti...

Gold’s HALO Shines Spotlight on Silver - LFTV Ep 271

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Gold’s HALO Shines Spotlight on Silver - LFTV Ep 271

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.