10 Days
Source:
الاقتصادية
Chinese bank boosts gold purchases amid price pressure
In May, the Chinese Central Bank continued increasing its gold reserves by 320,000 troy ounces, bringing its total holdings to a level that covers 19 months' worth of demand— the longest period since 2015. Nevertheless, gold prices declined for the third consecutive month due to concerns about inflation and expectations that interest rates will remain high, compounded by the impact of the Middle East war on the appeal of non-yielding assets. Central bank purchases remain a key factor strongly supporting gold prices.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)