Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Gold Monthly: Rally might not be over just yet | articles
    Commodities

    Gold Monthly: Rally might not be over just yet | articles

    August 8, 20242 Mins Read


    Central bank buying continued in June, with 12 tonnes of net buying reported during the month, data from the World Gold Council (WGC) showed. June’s purchases were once again led by emerging market central banks. Uzbekistan and India both added 9 tonnes to their gold reserves during the month.

    However, China has seen a slowdown in gold purchases over recent months. The People’s Bank of China didn’t add gold to its reserves for a third consecutive month in July. In May, China’s central bank didn’t add gold to its reserves ending an 18-month buying spree that had driven gold prices to record highs, with high gold prices likely to have deterred further purchases for now. Bullion held by the PBoC was unchanged at 72.8 million troy ounces at the end of last month, according to official data.

    Meanwhile, Singapore was the largest seller (-12 tonnes) in June – it reduced its gold reserves in June by the most since at least 2000. Buying strength continues this year, although gross purchases and sales are lower compared to the same period last year. In 2023, central banks added 1,037 tonnes of gold – the second-highest annual purchase in history – following a record high of 1,082 tonnes in 2022.

    However, we still expect central bank demand to remain strong looking ahead amid the current economic climate and geopolitical tensions and as prices retreat from record highs.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    “I’m an old man, I can do what I f***ing want!” Metal God Rob Halford considers recording an album of Tony Bennett covers

    Commodities

    Metal Gear Solid Delta’s Dismal PS5 Pro Support Could Use a Rethink

    Commodities

    Woodside veering away from investing in Australia as BHP’s Mike Henry weighs in on economic headwinds facing Australia

    Commodities

    Metal Gear Solid Delta Should Have Followed Silent Hill 2’s Lead

    Commodities

    Project to construct 1,000 ponds lunched in Thoothukudi to boost groundwater, agricultural production

    Commodities

    The Global Push for a Just Transition in Energy Jobs

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Fintech

    Healthcare Fintech Company Raises $232 Million (Series B)

    Precious Metal

    Koryx Copper augmente la taille de son placement garanti à 17 millions $

    Investments

    Why finding the right property manager is a must

    Editors Picks

    Dividend Stocks To Consider In August 2025

    August 18, 2025

    The U.S. Is Quietly Building Several Renewable Energy Megaprojects

    August 18, 2024

    Avant le festival Hellfest, aux enfants de se lâcher sur du métal

    June 17, 2025

    Gold Prices Slide Toward 6-Month Low as Trade Tensions Ease and Dollar Strengthens – Business – Gold and Currency

    May 15, 2025
    What's Hot

    UK loses second spot in global fintech to UAE

    July 24, 2025

    Govt launches satellite-based agricultural decision support system | India News

    August 16, 2024

    Sanam Real Estate affiche un bénéfice de 100 413 dinars au premier trimestre

    May 5, 2025
    Our Picks

    7 Monthly Dividend Stocks to Buy in August

    August 7, 2024

    Avantasia à l’Olympia : metal, clin d’œil à Louis de Funès et 13 musiciens sur scène

    March 18, 2025

    Trump Requests $844,600 for Fundraiser Seat at Conference

    July 18, 2024
    Weekly Top

    Woodside veering away from investing in Australia as BHP’s Mike Henry weighs in on economic headwinds facing Australia

    August 23, 2025

    How I structure investment property loans for maximum tax perks

    August 23, 2025

    How to get the Gold Beanstalk in Grow a Garden

    August 23, 2025
    Editor's Pick

    Monetary policies and digital currencies – a shift in global economy discussed by Reeves and Yellen

    July 14, 2024

    Stock market today: Dow, S&P 500, Nasdaq slide after Moody's downgrades US credit rating – Yahoo Finance

    May 19, 2025

    Revealed: Tyson Fury’s fortune rose from £82m to £162m in 2024 after first fight with Oleksandr Usyk with retired boxer’s company continuing to rake in millions from investments

    June 30, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.