CENTRAL BANKS BOUGHT 700 TONNES OF GOLD IN 2019( 2019 ) Central Bank consumption of GOLD = 700 tonnes
( 2018 ) Central Bank consumption of GOLD = 651.1 tonnes
Central Banks will buy even record amount of GOLD from now on and into 2021 .. because the USD no longer pays you interest .... rates are heading to ZERO and NEGATIVE
This will force all the Central Banks to hoard tons and tons of gold bars from now on.
China on average consumes about 984 tonnes of gold .. now the China government banned the chinese citizens from opening new accounts to speculate on gold paper, silver paper, and etc., This will drive the CHINESE GOLD CONSUMPTION TO THE MOON this year and next year because all the citizens going to be forced to buy PHYSICAL PRECIOUS METALS.
The top 10 gold producing countries pumps out about 1800 tonnes of gold per year before Coronavirus.. now they're producing a lot less gold for consumers and central banks to consumes.
Could Gold go into a SHORTAGE in 2021 ?? i say anything is possible due to the heavy demand for gold and silver.