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Despite rising prices, central bank gold purchases have rapidly decreased, as noted by Daniel Ghali
Central bank purchasing of gold has notably slowed, despite rising gold prices boosting the percentage of reserves held in gold. The focus on dedollarisation persists in market analyses but hasn’t majorly influenced buying trends recently. Analysis indicates that BRICs+ countries’ buying activities have paused, with Eastern European nations now driving central bank inflows, suggesting motivations beyond dedollarisation. CTA selling related to volatility control may have peaked, but significant future purchasing is not anticipated at any price. The debasement trade has attracted substantial fund flows from macro ... (full story)