Sprott study of trade data suggests huge export of U.S. government gold

IMG Auteur
Published : March 21st, 2013
229 words - Reading time : less than a minute
( 3 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
Our Newsletter...
FOLLOW : Gold Silver
Category : Market Analysis

Sprott Asset Management's Eric Sprott and Shree Kargutkar today report that their study of 22 years of international trade data suggests that the United States has exported almost 4,500 tonnes of gold beyond the country's supply capability.

Sprott and Kargutkar write: "The only U.S. seller that would be capable of supplying such an astonishing amount of gold is the U.S. Government, with a reported gold holding of 8,300 tonnes. The U.S. Government's gold holdings have not been audited or verified in more than four decades. The U.S. trade data defines the export of nonmonetary gold as a sale of gold from a private seller within the U.S. to an official agency. In September 2012 we espoused that the Western central banks have been surreptitiously selling or leasing their gold through private channels in an effort to increase the available supply and in turn suppress prices. This new analysis using official U.S. agency numbers seems to provide the strongest validation of our hypothesis to date. It is worth noting that our data covers only two decades and that the export gap could in fact be significantly larger if earlier numbers were included or the real private investor demand for gold was known."

The Sprott and Kargutkar commentary is headlined "Do Western Central Banks Have Any Gold Left? -- Part II" and it's posted at the Sprott Internet site here:


<< Previous article
Rate : Average note :5 (3 votes)
>> Next article
Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow