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Ronan Manly: LBMA 'trading data' is empty, suggests removal of central bank activity
10:23a ET Wednesday, November 21, 2018
Dear Friend of GATA and Gold:
Indispensable gold market analyst Ronan Manly, writing for Bullion Star today, writes that the London Bullion Market's new trading data report contains no trading data at all but does contain an anomaly suggesting that central bank trading has been erased from the data.
Manly writes: "While the LBMA's new data is very high-level and aggregated and does not do anything to lift the veil of secrecy lying over these markets, the magnitude of the trade volumes does prove what has been widely believed: that the over-the-counter gold and silver markets operating mainly out of London by mainly LBMA bullion banks are trading predominantly unallocated and fractionally-backed synthetic positions on gold and silver and a lot less in the way of physical gold and silver."
Manly's analysis is headlined "LBMA Trading Volume Data Confirms the Paper Gold Casino in London" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/lbma-trading-volume-data-c...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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