The buying and selling behaviour of Central Banks had a significant impact on the gold market before and after the 2008 crisis.
The switch from Central bank gold sales to purchases had a big impact on the gold market. Precious metals investors fail to realize that Central banks sold a staggering amount of gold into the market up until 2009. It’s also quite interesting that Central banks became net purchasers after the 2008 Market meltdown...
Source: Srsroccoreport Report