According to data released today, the amount of gold held by the People's Bank of China in May remained unchanged at 72.80 million troy ounces. This is the first time the country has decided not to increase its reserves since October 2022. Analysts suggest that the sizable trend on the precious metal in the medium term may have just been due to the PBoC's massive purchases of gold. According to the World Gold Council, purchases by global public institutions reached record levels in the first quarter, with China being the largest percentage buyer. Spot gold is down more than 1.2% following the release of the central bank's data.
Source: xStation5
Daily summary: Indices and crypto decline amid rising oil prices 🚩 Gold and the US dollar move higher
Oil surges 11% amid escalating Middle-East conflict 📈VIX gains driven by fear on Wall Street
Three markets to watch next week (06.03.2026)
Market Wrap: Capital Flees Europe 🇪🇺 📉