In the past Gold was important. After WWII where all countries in the world harvesting as much Gold as possible. When Nixon finally murdered the gold standard central banks started to unleash Gold. Until 1999 when limits were put on how much Gold a central bank was allowed to sell.
So where are we right now? first of all, we need to take into consideration that many central banks have very limited or none Gold at all.
Nowadays is around 20% of the global Gold reserves are held by central banks.
When we look at what is happening right now, then we see that Russia and China have positioned themselves at the center of the geopolitical chessboard.
When we look at what is happening right now than we need to understand that China is one of the largest Gold buyers.
So if we have the Coronavirus out. What will it mean? Will China stop buying Gold? Will China start selling Gold?
There is a very good saying. If you control the Gold you make the rules.
It is extremely unlikely that China will start unloading Gold. During what is happening right now, uncertain times, simply means that Gold proofs its value.