Is there really 15,000 tonnes of gold borrowed right now from central banks
Id say yes, and if gold goes much higher with no central bank selling these borrowed tonnes must be bought back, at much higher prices. Lease rates are on the rise too, so central banks will pay you more to borrow your gold, and who say's gold does not pay interest. Everyone but a few think gold is going down, Im in the camp that say's gold is going higher, Much higher possible $2000-$4000 per ounce in the next 3-5 years. In the seventies gold stocks did the best, this may well be a repeat of that, and let us not forget China, It is now number Gold consumer in the world, and its not like India with its demand flucuations with weather events and wedding seasons, CHina is strong, and its demand for gold is outstanding and resilent and will not let up for years, this and US dollar weakens will push gold to $2000 easy in the next 16 months.