Gold bans are not improbable and it has already happened in major economies. Whether in the U.S., Germany, or other European countries a gold ban has been in place again and again in recent history. Many will not remember or even know about the last ban, but in the seventies, there was a ban on the ownership of gold for ordinary people in the U.S.
Due to the precarious Corona situation in Europe, many people can already imagine that there could be a ban on gold ownership for citizens.
However, the main reason is not the coronavirus itself but the response of governments to the pandemic by injecting unbelievable amounts of currency units into the economies and thereby incurring massive debts.
Now, gold ownership bans usually come when government finances are very bad. As the governments are trying everything to avoid national bankruptcy, they forced the citizens to sell their gold holdings at a fixed price to counteract the financial emergency. In the chart below you can see the massive debt of the different countries.
Another reason for a gold ownership ban is also something we are experiencing ourselves at the moment and that is the massive inflation or the massive loss of value in fiat currencies. Fiat currencies tend to become increasingly worthless over time as governments add more and more fiat currency units until consumer prices explode and the population loses confidence in the fiat currency. In this state, we then find ourselves in hyperinflation as occurs today in Venezuela or Zimbabwe.
If you get the feeling that either of these factors is getting out of control, you should urgently move your gold to safety. You never know what crazy laws will be enacted next.