PHOTO CREDIT: Unsplash / Precious Metals Bureau
commodities
Gold Futures Trade Near Record Highs Driven by Central Bank Reserve Accumulation
Spot gold stays supported above $2,350/oz as sovereign central banks continue acquiring physical bullion for balance sheet diversification.
Reported by PnbMoney Commodities Bureau PNB Money Bureau
EXECUTIVE BRIEFING
Key Market Takeaways
- 01. Gold spot prices maintained levels near $2,365 an ounce despite firm Treasury yields.
- 02. Global central bank net gold purchases totaled over 290 metric tons in the first half of the year.
- 03. Retail investor demand for physical gold coins and bars surged across Asian hubs.
- 04. Silver futures tracked gold higher, testing resistance at $30 per ounce.
Gold prices continued to trade near historic highs as steady central bank physical purchasing provided a strong floor under market pullbacks.
Diversification away from paper reserve assets and ongoing macroeconomic uncertainty have sustained strong institutional interest in physical gold bullion.