Episode 266
Posted 3rd april 2026

Physical Flows Signal a Shift in Gold & Silver Ft. Andy Schectman

In this week’s Live from the Vault, Andrew Maguire welcomes Andy Schectman of Miles Franklin to examine the widening gap between COMEX and physical metal flows, highlighting record deliveries and unprecedented sovereign accumulation.

The two friends examine the erosion of trust in Western systems and the influence of key players, including China and central banks, quietly absorbing substantial quantities of gold and silver and altering the dynamics of the metals market.

Andrew Maguire

Precious metals expert & whistleblower

Andrew Maguire is a well-known figure in the precious metals industry, primarily recognised as a whistleblower and expert on gold and silver markets. With nearly 50 years of experience as a commodities trader, he has become a key voice on market manipulation in the precious metals sector, particularly within the COMEX (Commodity Exchange) markets.

As an independent Loco London metals trader and analyst, Maguire has delivered Precious Metals Advisory and Trading services to international hedge fund managers, bullion banks, metal traders, and some of the world’s largest financial institutions. His established relationships with regulatory bodies, including the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ), as well as the UK’s Financial Conduct Authority (FCA), underscore his trusted role in the industry.

In 2010, Maguire brought global attention to silver market manipulation through a whistleblower testimony to the CFTC, cementing his reputation as a highly credible authority in the precious metals community.

Today, he continues to provide his insights into precious metals and financial markets as a regular commentator on the Live from the Vault podcast, where he explores trends and developments shaping the global financial landscape.

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Andy Schectman

President of Miles Franklin

Andy Schectman is the president and founder of Miles Franklin, a leading precious metals investment firm. With over three decades of experience in the industry, Schectman has positioned Miles Franklin as a trusted source for gold and silver investments, achieving nearly $10 billion in sales without a single customer complaint. His company is known for its dedication to integrity and customer satisfaction.

Schectman advocates for viewing precious metals as enduring wealth rather than conventional investments, emphasising their role in preserving value through economic upheavals. He is also a vocal critic of fiat (paper) currency systems and frequently discusses the implications of global financial shifts, such as de-dollarisation and central banks’ growing interest in gold.

Andy’s insights are often sought in discussions about the intersection of geopolitics, macroeconomics, and the precious metals market​.

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