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Ronan Manly: Shareholders Gold Council won't notice the issue that matters most
11p ET Monday, June 25, 2018
Dear Friend of GATA and Gold:
Bullion Star gold researcher Ronan Manly tonight laments that the Shareholders Gold Council being spearheaded by hedge fund manager and gold advocate John Paulson will focus only on efficiencies in the gold-mining industry, not on gold price suppression by central banks and their agent bullion banks.
"The price that gold mining companies receive for their gold mining output is the most important driver of gold mining share price performance, and not the company's cost base," Manly writes.
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"The Shareholders Gold Council, which on paper will have immense research resources and firepower and influence, will not, it seems, devote any time or resources to questioning anything to do with the gold price and will just take it as a given. This is a completely lost opportunity given that there is ample material for analysis in this area, some of which would surprise institutional and hedge fund investors in the gold space if they bothered to look. Much of this material has been documented on this website and elsewhere, such as by GATA.
"Generally speaking, gold mining executives don't want to touch any subject related to the gold price, nor does its representative body, the World Gold Council. Now, it seems, the institutionally backed Shareholders Gold Council likewise does not want to broach the gold price subject.
"Which is a shame, for by not examining the issue, and by not using some of their research resources to analyze and investigate and to write reports on the ample evidence of structural inefficiencies and interventional forces that hold back the gold price, Paulson's Shareholders Gold Council, in the same way as the gold-mining shareholders it criticizes, will remain 'like sheep being led to slaughter.'"
Manly's commentary is headlined "The Shareholders Gold Council -- Just Don't Mention the Gold Price" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/shareholders-gold-council-...
Incidentally, GATA has asked an investment house participating in the Shareholders Gold Council for an invitation to make a presentation to the council.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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