Gold edges up as China extends central bank buying streak amid Middle East tensions

From vtmarkets.com

Gold has moved slightly higher, helped by central bank buying and geopolitical tension in the Middle East. Demand linked to US-Iran military escalation has supported safe-haven flows. China’s central bank continued to add to its gold reserves in April. This marked the 18th consecutive month of purchases. The People’s Bank of China increased official gold reserves by 260,000 troy ounces, or about 8 tonnes. This was its largest monthly purchase in over a year and the biggest monthly addition since December 2024. The purchases reflect China’s move to diversify reserves and reduce holdings of US Treasuries. Central ... (full story)