I think one of the logical conclusions was...(a) Over 85% of the...

I think one of the logical conclusions was...

(a) Over 85% of the gold mined in history has occurred since 1890, with two thirds extracted in the past 50 years.

(b) That in 1951, global gold reserves stood at 30,821t, 66% of which was held by the US (20,326t Au - despite selling 1,356t from several years earlier). Sixty years later, in 2011, global gold reserves stand at 31,567t Au, only a little over 2% more than previously.

Therefore, it is probably fair to say that the impact of bank purchases or sales has dramatically diminished in importance over time. Although this may change in the short-term, maybe.