Morning Bites (part 1)

🏦 Global central banks suddenly sold substantial volumes of gold in April, marking the first decline in holdings since March 2022, the World Gold Council (WGC) reports. Overall, CBs were net sellers of 71t of gold (vs. the revised +1.1t in March). The main contributors were Turkey (-81t: 14% of its reserves) and  Kazakhstan (-13t). On the buyers' side were Poland and China (+15t and +8t, respectively). Although CB dynamics were bearish in April, we reiterate our positive view on the precious metal's price, amid inflation pressures and the adverse macroeconomic situation globally. In addition, a WGC poll underpins the positive sentiment among CB managers toward gold holdings

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