You are here
World Gold Council consistently understates gold demand, Sprott charges
9:30a ICT Wednesday, October 23, 2013
Dear Friend of GATA and Gold:
Gold demand statistics reported by the World Gold Council "consistently misrepresent reality" by understating metal flowing to Asia, Sprott Asset Management CEO Eric Sprott charges this week in an open letter to the council.
Challenging the WGC's data compilation, which relies on methodology of the GFMS consultancy, Sprott calculates that annual gold demand is actually running 3,000 tons greater than mine supply.
Sprott writes: "I urge the leaders of the World Gold Council, for the benefit of their own members, to improve the quality of their data and find alternative sources than the GFMS, which paints a misleading picture of the real demand for gold. This lack of quality information has certainly been one of the driving factors behind the lack of investors' confidence toward gold as an investment. Gold has been one of the best-performing asset classes since 2000 and the World Gold Council should be promoting it accordingly."
Sprott's letter is posted at the Sprott Internet site here:
http://sprott.com/markets-at-a-glance/open-letter-to-the-world-gold-coun...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
You Don't Have to Wait for Your Monetary Metal:
All Pro Gold Has Product for Immediate Delivery
Many investors lately report having to wait weeks and even months for delivery of their precious metal orders. All Pro Gold works with the largest wholesalers that have inventory "live" -- ready to go. All Pro Gold can ship these "live" gold and silver products as soon as payment funds clear.
All Pro Gold can provide immediate delivery of 100-ounce Johnson Matthey silver bars, bags of 90 percent junk silver coins, and 1-ounce silver Austrian Philharmonics.
All Pro Gold can deliver silver Canadian maple leafs with a two-day delay and 1-ounce U.S. silver eagles with a 15-day delay.
Traditional 1-ounce gold bullion coins and mint-state generic gold double eagles are also available for immediate delivery.
All Pro Gold has competitive pricing, and its proprietors, longtime GATA supporters Fred Goldstein and Tim Murphy, are glad to answer any questions or concerns of buyers about the acquisition of precious metals and numismatic coins.
Learn more at www.allprogold.com or email info@allprogold.com or telephone All Pro Gold toll-free at 1-855-377-4653.
Join GATA here:
The Silver Summit
Davenport Hotel, Spokane, Washington
Thursday-Friday, October 24-25, 2013
http://www.cambridgehouse.com/event/silver-summit-2013
Mines and Money Australia
Melbourne Conference and Exhibition Centre
Tuesday, October 29-Friday, November 1, 2013
New Orleans Investment Conference
Sunday-Wednesday, November 10-13, 2013
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080...
* * *
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:
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:
To contribute to GATA, please visit:
