Change in Central Bank Gold reserves
Let’s take a quick look at this graph. Who is the largest buyer and seller of physical gold in the last 20 years? Acording to available statistics, we could see that the Russia and China are the largest buyers with purchased of +800 (Russia), +700 (China) tonnes of physical gold in the last 20 years. In 2015. the Russia holds a total of 1150 tonnes, while China holds a total of 1050 tonnes of gold. While they are buying more and more, Switzerland is the bigger seller and until 2000. to 2007. the SNB has sold 1500 tonnes of gold and currently has a total of 1000 tonnes. Check out the changes at the other countiers as well, interesting battle in the ‘physical gold market’.