Morning Bites (part 2)

🏦 Global central banks accumulated net 55t of gold in July, vs. the revised +86t in June, the World Gold Council reports. The main buyers were China (23t), Poland (22t) and Turkey (17t). On the sellers' side were Uzbekistan (-11t) and Kazakhstan (-4t). As we had anticipated, the countries’ selling capacity turned out to be limited, which underpins our positive view on the precious metal’s performance, amid strong physical gold demand, the adverse macroeconomic environment globally and miners' growing cash costs

#gold
https://metals-wire.com/sector/Gold