That is true. 
But I believe they arent just hoarding gold, they are also starting to wet their feet in bitcoin or cryptocurrencies. 


Satosora

There is no question that Bitcoin is superior to gold, but if you look at how the central banks are hoarding gold in Asia, we may experience a decade of precious metals for the time being

TomK

charts_and_numbers

The Decade Of Commodities Is Just Around The Corner

The drought has been very long for gold and silver. 
Even though the ratios are still off from where they should be. 
I feel a lot of this generation believes in digital currency as being the new gold. 