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David Baker and David Franklin: The Shanghai gold surprise
11:52p ET Sunday, July 21, 2013
Dear Friend of GATA and Gold:
Sprott Asset Management's David Baker and David Franklin note that the new Shanghai Gold Exchange seems to be arranging delivery of the equivalent of all the world's gold production, many times the amount of gold delivery arranged by the New York Commodities Exchange. "How that can coincide with a gold price drop of $400 per ounce over Q2," Baker and Franklin write, "is beyond our capability to explain."
No problem -- explaining such anomalies is what GATA is for.
The Baker and Franklin essay is headlined "The Shanghai Gold Surprise" and it's posted at the Sprott Internet site here:
http://sprottgroup.com/thoughts/articles/the-shanghai-gold-surprise/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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