Koos Jansen: Bank of England's gold vault is nearly 500 tonnes lighter than last year
12:03p ET Tuesday, June 17, 2014
Dear Friend of GATA and Gold:
Custodial gold held by the Bank of England fell by nearly 500 tonnes over the year ending in February, gold researcher and GATA consultant Koos Jansen reports today upon examining the bank's new annual report. During the same period, Jansen writes, the United Kingdom reports having a net gold export balance of nearly 1,600 tonnes.
The Bank of England vaults gold for many customers and there are other commercial gold vaults in the U.K., and exactly whose gold was transferred where and for what purposes are highly sensitive secrets -- in part because the transfers may involve manipulation of the gold market by central banks, whose daily trading in gold is public record --
-- but not discussed in polite company and never examined by mainstream financial news organizations.
Jansen's commentary is headlined "The Bank Of England Lost 487 Tonnes of Gold in 2013" and it's posted at his Internet site, In Gold We Trust, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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