Central Bank Gold Purchases Surge to Record 289 Tons in Q2, But Easing Seen Ahead
World Gold Council data shows central bank gold purchases hit a record 289 tons in Q2, led by Poland and China. BNY's Geoff Yu notes demand is expected to ease after the sharp rebound.
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Central bank gold purchases rebounded to a record 289 metric tons in the second quarter, according to World Gold Council data. The surge was led by Poland and China, following a very weak start to the year.
BNY's Geoff Yu highlighted the data, noting that such elevated buying is unlikely to continue. The central bank demand is seen easing in the coming months after the record quarter.
Source: FXStreet Forex News