In 2021 we are seeing gold demand down seven percent year-to-date after record levels in 2019 and 2020. There are outflows in Gold ETFs, points out Joseph Cavatoni of World Gold Council. The price is holding range-bound, he adds. Central banks are buying gold at a slower pace, but still consuming. He says there are actually inflows into gold ETFs in Asia. He and Ben analyze the chart of gold futures (/GC). Joseph thinks we are in a frothy market.