New research from Sprott Asset Management has revealed that huge sales of gold by the Federal Reserve over the past two decades have kept the gold price below where it ought to be if market forces were setting the price. It’s a red letter day for gold price conspiracy theorists.
Sprott researchers looked back though US trade data and found that the US has been consistently exporting large amounts of gold, and that ‘the amount of gold the US has been exporting is above and beyond what the US should be capable of exporting…
‘In December 2012 the US exported over $4 billion worth of gold and imported around $1.5 billion worth of gold, representing a net export of $2.5 billion or almost 50 tonnes.’ Tracing the data back Sprott discovered a similar pattern of net gold exports going back 21 years.
http://www.arabianmoney.net/gold-silver/2013/03/21/massive-hidden-us-gold-sales-by-the-fed-have-kept-the-gold-price-down-reveals-sprott-study/
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