Learn from Buba and Demand Delivery for True Price of Gold

ATA's Chris Powell calls our attention to an article in the venerable Financial Times or FT.  The Neil Collins  piece, titled "Learn from Buba and Demand Delivery for True Price of Gold," is appended in the GATA dispatch linked below.  We deem it worthy of sharing.llins begins his story:  "A year ago the Bundesbank announced that it intended to repatriate 700 tons of Germany's gold from Paris and New York. Although a couple of jumbo jets could have managed the transatlantic removal, it made security sense to ship the load in smaller consignments. Just how small, and over how long, has only just become apparent.ast month Jens Weidmann, Bundesbank president, admitted that just 37 tons had arrived in Frankfurt. The original time scale, to complete the transfer by 2020, was leisurely enough, but at this rate it would take 20 years for a simple operation.ell, perhaps not so simple. While he awaits delivery, Herr Weidmann is welcome to come and look through the bars in the Federal Reserve’s vaults, but the question is: Whose bars are they?or the full story, follow this link to the GATA dispatch.GGR comment.  Of particular interest to us is Collins' observation that London's gloomy gold analysts saw gold trading for an average of $1700 the ounce a year ago (for 2013).  It is currently in the $1260s, as Collins points out, thus, their current estimates for 2014 (mostly in the $1100s)  could be just as far off the mark.an interesting graphic posted by Bron Suchecki on the Perth Mint's website which tracks recent predictions by the LBMA bankers for the price for gold and silver, follow this link..perthmintbullion.com/us/blog/blog/14-01-22/How_Accurate_Is_The_LBMA_Precious_Metals_Forecast_Survey.aspxuchecki concludes the banker are usually pretty good with their forecasts, but 2013 was obviously a big miss.  "This year the low/high range is quite tight for both metals, leaving little room for error," Bron wrote.  "Precious metal investors can only hope that the contributors repeat their poor 2013 forecast accuracy – to the upside that is!"