Morning Bites (part 1)

🏦Global central banks accumulated net 6t of gold in August, a slowdown from the +37t seen in July, the World Gold Council reports. Overall trading was rather slow: the only country to purchase significant volumes was Poland (+6t), while Kazakhstan was a seller, with a net outflow of 5t

Although, at spot, gold continues to trade above its fundamentally reasonable level for 2H24 (~USD 2,400/oz), we expect additional upside in the precious metal’s price, following ETFs’ return to gold purchasing and monetary policy easing in the US/EU, as well as given the persistent geopolitical tensions globally

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