Central banks went on a gold buying spree in 2018.
Russia adds to its gold holding every month.
The Eastern block is adding to its reserves slowly. The demand side of the equation looks promising.
They are buying into weakness and are being quite about it.
On the opposite side of history is former UK Prime Minister, Gordon Brown. He sold half of UK’s gold reserve at the very bottom in the late 90’s and early 2000’s. To add to the stupidity, he actually announced he was going to be selling before he sold. The gold market plunged before the selling. This allowed the UK government to get the worst possible selling price. Always look for ways to profit from stupidity.