You are here

Ronan Manly: West sent at least 4,200 tonnes of gold to Asia in 2013-15

Section: Daily Dispatches

2:10p ET Monday, July 31, 2017

Dear Friend of GATA and Gold:

Gold researcher Ronan Manly today documents the flow of 400-ounce London good- delivery bars to Asia via refineries in Switzerland that convert them to kilogram bars. Manly concludes:

"Overall, within the 2013–15 period, that is about 4,200–4,600 tonnes of gold being converted into kilogram and other smaller-denomination high-purity gold bars and sent to markets in China, India, Hong Kong, and elsewhere in Asia. This is gold above and beyond mine supply and scrap supply.

"Where has all of this gold come from? Some of it is proven to be from gold-backed exchange-traded funds. Some is most probably from central bank vaults, in which case the central banks do not have the gold they claim to have -- which everybody knows anyway, as much central bank gold has been lent out and is merely a fiction on the central bank balance sheets.

"But there may also be other stockpiles of good-delivery gold bars that are feeding this huge trend. Until the London Bullion Market Association begins to publish its vault statistics, any gray-area unreported gold vault inventories in London are still being kept in the dark."

Manly's analysis is headlined "The West Lost At Least Another 1,000 Tonnes of Large Gold Bars in 2015" and it's posted at Bullion Star here:

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


Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017

* * *

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:

To contribute to GATA, please visit: