Morning Bites (part 1)

🏦 Global central banks purchased net 43t of gold in October, vs. the revised +72t in September, marking the fifth consecutive increase in holdings, the World Gold Council (WGC) reports. As has become traditional in recent months, the main contributors were China and Turkey (+23t and +19t, respectively), as well as Poland (+6t). The only material net seller was Uzbekistan (-11t). We reiterate our view that persistently strong gold demand from global CBs, gold miners’ rising cash costs and potentially lower US Fed funds rate in 1H24 might support the precious metal's performance

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