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Home>Market Analysis>Decline in GLD tonnage shows gold's strength, Sprott tells King World News

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Decline in GLD tonnage shows gold's strength, Sprott tells King World News

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Chris Powell

GATA

Published : June 02nd, 2013

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FOLLOW : Exchange Traded Fund Gata Gold Hong Kong Market

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Category : Market Analysis


	Interviewed today by King World News, Sprott Asset Management CEO Eric Sprott discloses that rising gold price premiums in Shanghai precede gold tonnage reductions in the exchange-traded fund GLD. While news reports and market commentaries have been portraying the decline in GLD's gold tonnage as a sign of gold's weakness, Sprott says, it is actually an indication of strength and shows the shortage of gold among bullion banks. Sprott's evidence provides support for the contention made two weeks ago in an interview with King World News by Hong Kong fund manager William Kaye, who said GLD's gold was being looted and shipped to Asia in an arbitrage scheme: http://www.gata.org/node/12580 An excerpt from Sprott's interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_Da...2013/5/31_Sp...

Data and Statistics for these countries : Hong Kong | All

Gold and Silver Prices for these countries : Hong Kong | All

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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.

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