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Koos Jansen: Shanghai exchange chief confirms WGC badly underestimates gold demand

By: Chris Powell, Secretary/Treasurer, GATA

 -- Published: Wednesday, 25 June 2014 | Print  | Disqus 

Dear Friend of GATA and Gold:

Gold researcher and GATA consultant Koos Jansen today reports confirmation from the chairman of the Shanghai Gold Exchange that offtake from the exchange exceeded 2,000 tonnes in 2013, nearly doubling the estimate of Chinese gold demand made by the World Gold Council. Jansen also reports the assertion by the chief of the precious metals department of Industrial and Commercial Bank of China, the world's largest bank, that pricing for gold will shift from the derivatives market to the physical market.

The information comes to Jansen from an associate reporting on the proceedings of the London Bullion Market Association meeting in Singapore.

Together these assertions seem to constitute the best confirmation yet that China's view of the gold market is GATA's view and not the purported view of the bullion bankers in London, New York, and Washington.

Jansen's report is posted at his Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/lbma-forum-singapore-sge-chairman-confirms-c...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Join GATA here:

Casey Research 2014 Summit
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Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16


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 -- Published: Wednesday, 25 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

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