You are here

Alasdair Macleod: Sprott's right, WGC is wrong on gold demand data

Section: Daily Dispatches

2p ET Friday, November 22, 2013

Dear Friend of GATA and Gold:

The economist Alasdair Macleod, GoldMoney's research director, today analyzes the controversy over the World Gold Council's gold demand estimates and sides with Sprott Asset Management CEO Eric Sprott, concluding that the gold council vastly underestimates gold being imported into China.

Macleod calculates that imports by China and Hong Kong "exceed all other mine supply by at least 580 tonnes on an annualized basis."

Macleod concludes: "Without significant leasing by Western central banks, total Asian demand could not be satisfied at current prices, because there is no evidence of material selling by existing holders of above-ground stocks, with the exception of exchange-traded fund liquidation, which is minor compared with the amounts involved."

Facilitating gold price suppression explains the concealment by Western central banks of their gold swaps and leases, as confirmed by the secret March 1999 report from the staff of the International Monetary Fund:

http://www.gata.org/node/12016

But what explains the gold council's determined avoidance of this admission that central bank gold reserve data is false?

Macleod's commentary is headlined "Chinese Gold Demand and the World Gold Council's Estimates" and it's posted at his Internet site, Finance and Economics, here:

http://www.financeandeconomics.org/chinese-gold-demand-and-the-world-gol...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



ADVERTISEMENT

How to profit with silver --
and which stocks to buy now

Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.

Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.

To learn about this report, please visit:

http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp...



Join GATA here:

Vancouver Resource Investment Conference
Vancouver Convention Centre West
Sunday-Monday, January 19-20, 2014
Vancouver, British Columbia, Canada

http://www.cambridgehouse.com/event/vancouver-resource-investment-confer...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16



ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata