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Ronan Manly: This week's central bank gold data from World Gold Council was just made up
9:39p ET Friday, November 4, 2022
Dear Friend of GATA and Gold:
Bullion Star gold market analyst Ronan Manly reveals tonight that most of the record gold buying by central banks that was reported this week by the World Gold Council cannot be documented or even reliably attributed. Rather, Manly finds, almost 78% of the central bank gold buying claimed by the gold council is just the estimate of a mysterious council consultant, unsupported by any official data.
... Dispatch continues below ...
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Of course, Manly adds, financial news services, including Bloomberg and Reuters, reported the gold council's claim without any scrutiny.
Manly concludes: "Why does the Gold Establishment not want a light shone on the central bank gold world and why are they protecting the secrecy? Equally, why do the large financial media organizations, such as Bloomberg, never want to investigate the central bank gold market?
"If this was the international oil market, they'd be all over OPEC and the producers and the industry with a huge number of reporters and journalists doing an extensive investigation."
Manly's report is headlined "Gold Establishment Supports Central Bank Secrecy Instead of Exposing It" and it's posted at Bullion Star here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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