Where Is All The Gold Going?

Where the gold is going is certainly no secret. Whilst the West has not got a clue of the strategic significance of physical gold, the East’s accumulation of the yellow metal continues unabated. Since 2008 just China and India have accumulated 26,000 tonnes of gold. That is a remarkable figure and virtually the total mine production for that period. There are many other Eastern countries which also continue to buy major quantities of gold such as Russia, Turkey, Iran and Thailand. CHINA AND INDIA HAVE BOUGHT 26,000 TONNES SINCE 2008 For decades most Western central banks have been reducing their holdings either by official selling, leasing or covertly disposing of their gold. The top 20 central bank holders of gold have officially a total of 29,000 tonnes. But it is doubtful that they even hold as much as 50% of that in physical form in their possession. REAL PHYSICAL GOLD RESERVES WELL BELOW THESE OFFICAL FIGURES NO CENTRAL BANK P...

from GoldBroker.com https://www.goldbroker.com/news/where-is-all-the-gold-going-1426