On a firmly rising gold price the UK is one of the largest net importers of gold in 2016. The gold price went up 25 % from $1,061.5 dollars per troy ounce on January 1 to $1,325.8 on June 31. Over this period the UK net imported 583 tonnes and GLD inventory mushroomed by 308 tonnes.
Take a look inside the world's biggest gold market in this new infographic from BullionStar. From gold mining, to gold imports, to gold trading volumes and official gold reserves, the Chinese are the world's dominant gold market players.
So the next round of experiments will probably feature bigger deficits and more aggressive public hand-outs. Which – since these have already been tried and failed – doesn’t give much hope for the future.