i have a probably somewhat retarded question. as i understand it the current all-time-high in gold price is driven by china (and some others) buying astronomical amounts of gold.

who are they buying that gold from? im guessing its not private individuals since they wouldnt have state-buyer levels of gold to offer. i imagine it's not merely the chinese buying up all the gold currently produced. is it banks and other gold hoarding corps that they are buying it from? are they buying it from other states? is it just all of the above?

i find this interesting. happy for any insights, perhaps articles on that if there's good ones. cheers