We saw over 40% of annual production of gold being sold last week which is 1,000 tons. The physical market continues to be strong which I will discuss further on.
Western Central Banks hold less than 50% of official quantities
Obviously, the sellers had no physical gold to sell so they conveniently dumped all this gold in the paper market. It would have been totally impossible for them to do this trade in the real gold market which is only physical of course. Western Central banks have no physical gold of any quantity to sell. This is why they must fabricate paper gold out of thin air in order to dump it in the market. In total, these banks officially have around 23,000 tons of gold. I doubt they even hold half that figure. The rest is likely to have been sold covertly.