So, where is all the gold going, I'd like to know? India's not buying, apparently. Jewellery demand is not increasing. Central banks not buying in quantity. Mints are not increasing production in any truly significant amount, so retail punters can't get their hands on minted products.
If you look at supposed annual mine supply and subtract the above sources of demand, you get a great, big gap. Is it the various ETF's around the world snaffling this extra gold? It must be, otherwise I don't know where it all goes.
