Morning Bites (part 2)

🌕Most central banks are set to raise their gold holdings in 2023, according to poll results by the HSBC Reserve Management Trends Survey. Specifically, more than two thirds of 83 reserve managers believe their peers will increase gold holdings this year, citing inflation and geopolitical risks as the most important concerns. We remind our readers that global institutions already boosted purchases 2.5x YoY to 1,136t in 2022, while they kept buying gold in 2mo23. Hence, the news is in line with the current dynamics and our bullish view on the yellow metal, amid the substantial growth in physical gold demand and unfavourable macroeconomic conditions globally

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