10:11p ET Tuesday, August 6, 2013
Dear Friend of GATA and Gold:
Jan Skoyles, research director for The Real Asset Co. in London, summarizes her recent studies of the various components of what passes for the gold market. Skoyles concludes:
"The gold price is not determined by demand and supply of physical gold. Instead it has become the victim of a highly speculative paper market where financial instruments have been created to derive benefit from the inherent desire felt by investors to own, trade, and punt gold.
"The nature of gold demand is changing. As Eastern nations and emerging economies take their place on the global economic stage, their investment decisions will also make an impact on markets. These countries do not wish to hold these paper products when they can own physical gold instead."
Skoyles' commentary is headlined "The Nature of Gold Demand Is Changing" and it's posted at The Real Asset Co.'s Internet site here:
http://therealasset.co.uk/gold-demand-changing/ [1]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
All Pro Gold's Fred Goldstein and Tim Murphy
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