Morning Bites (part 1)

🏦Global central banks accumulated net 39t of gold in January, accelerating from the revised +17t in December and marking the eighth consecutive increase in holdings, the World Gold Council reports. The main buyers were Turkey (12t), China (10t) and India (9t). Meanwhile, the only reported seller was Russia, which sold some 3t of gold. We keep our view that persistently strong demand from global central banks, miners' growing cash costs and market expectations of a US Fed Funds rate cut in 2024 are likely to provide further support to the precious metal's performance

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