Morning Bites (part 2)

🏦 Global central banks purchased 77t of gold in August, vs. the revised +49t in July, marking the 3rd consecutive increase in holdings, the World Gold Council (WGC) reports. The main contributors were China (+29t), Uzbekistan (+9t), Poland and Turkey (+15t both). We note that there were no material volumes on the sellers' side, which also demonstrates strong gold demand from CBs. Overall, the adverse macroeconomic conditions globally and the growing cash costs of miners are likely to provide further support for the yellow metal's performance, we believe

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