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Koos Jansen: China will have imported 2,000 tonnes of gold this year
11:50p ET Friday, December 13, 2013
Dear Friend of GATA and Gold:
Gold market researcher and GATA consultant Koos Jansen today presents a comprehensive review of China's gold market, discerns how certain data has misled the GFMS consultancy and its client the World Gold Council into severely underestimating Chinese demand, and concludes that total Chinese gold demand for 2013 will reach well more than 2,500 tonnes and net imports probably 2,000 tonnes. The latter figure would be most of annual world gold mine production, leaving little for India and the rest of Asia even as they also are recognized as big importers. This raises the question of where all the extra metal is coming from if not, as Sprott Asset Management's Eric Sprott has inferred, from Western central bank vaults through surreptitious swaps and leases and from the spooking of investors in Western exchange-traded funds.
Jansen's commentary is headlined "Shanghai Gold Exchange Physical Delivery Equals Chinese Demand, Part 2" and it's posted at his Internet site, In Gold We Trust, here:
http://www.ingoldwetrust.ch/shanghai-gold-exchange-physical-delivery-equ...
Meanwhile, interviewed by J.T. Long for The Gold Report, CPM Group Managing Partner Jeffrey Christian contends that gold's decline in price results not from market manipulation but from a massive decline in investment demand. The interview with Christian is headlined "Lack of Demand, Not Manipulation, Behind Gold Price Drop, Says CPM's Jeffrey Christian" and it's posted here:
http://www.theaureport.com/pub/na/lack-of-demand-not-manipulation-behind...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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