Central banks buying $0.025 trillion of gold per year in a global economy of $84 trillion per year. Doesn’t seem like much to get worked up over.
You are looking at the wrong numbers. It’s not what percentage of the global economy it comprises but what percentage of the global supply of gold. Central banks have been in a slow but steady program of accumulation since the last financial crisis. And China has almost certainly been under-reporting their own reserves.
Ok; now they have gold in their vaults; right?
Yeah; sure...