Eric Sprott has calculated that record gold demand in 2013 massively exceeds mine supply. This means that lower prices can only be achieved through a massive transfer of ownership. That is what is happening as the West sells and the East buys.
https://sprottglobal.com/markets-at-a-glance/maag-article/?id=8424

The Unbeatable Investment Management Combination
Conventional asset management isn’t just underperforming. It has structural failures that most investors have never examined. Compounding is the real engine of wealth, and optimal compounding requires proactive processes to

