Here Is The Gold Market In One Fantastic Chart

"...Looking at China’s production and imports of gold, that is just unbelievable in the last decade. I’ve included a chart which shows a graph. In 1980, they had 50 tons of imports and production, which was mainly production and no imports (see chart below).

By 2000 they had 175 tons (of domestic gold production). In 2012, Eric, they imported and produced 900 tons. Of that 900 tons, 500 tons was actually imported. It is just amazing what is happening in China.

So China is buying and many other governments are buying and nobody is selling gold. Also, worldwide vault capacity is being built very rapidly. So worldwide there is massive buying going on. So where is all of that gold coming from?

The gold is coming from (Western) central banks. Eric Sprott has talked about this in the last couple of months. So we’re seeing a shift from central banks, that clearly will not have the gold they say they have, into private ownership.”

 

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/7_Here_Is_The_Gold_Market_In_One_Fantastic_Chart.html