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Central Bank Gold Buying Rebounds In April From Dramatic March Selloff
First the good news: according to the latest World Gold Council update, central banks, a key pillar of the bullish case for gold, have returned to adding holdings in April after notable selling in March sent the price of the precious metal tumbling. The 17 ton purchase represents a turnaround from steep sales in March, which at nearly 30 tons were the largest monthly gold sales in years, driven almost entirely by Turkey. Poland remained the top buyer in the month, while China accelerated its pace of purchases. chart According to WGC, Poland remained be the top buyer in the month (14t), while China intensified its ... (full story)
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- Jun 3, 6:42pm | 44 hr ago Posted byFundamental Analysis96
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