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Sprott study of trade data suggests huge export of U.S. government gold
Submitted by cpowell on Wed, 2013-03-20 03:59. Section: Daily Dispatches
11:57a HKT Wednesday, March 20, 2013

Dear Friend of GATA and Gold:

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:

http://www.sprott.com/markets-at-a-glance/do-western-central-banks-have-...

http://www.gata.org/node/12355

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

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