Select Language

Oil: Central bank Gold buying slows in April - ING

Breaking news

Oil: Central bank Gold buying slows in April - ING

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.04 17:46
Oil: Central bank Gold buying slows in April - ING

update 2025.06.04 17:46

Central banks added a net 12 tonnes of Gold to global Gold reserves in April, 12% lower than the previous month and below the 12-month average of 28 tonnes, according to the latest data from the World Gold Council. Although central banks are still buying Gold, the pace has slowed as prices hit record highs. April marked the second consecutive month of slower accumulation, ING's FX analyst Francesco Pesole notes

Central banks are likely to add more Gold to their reserves

"Gold prices are up around 27% so far this year, after peaking at a record $3,500/oz in April. The rise is being driven by the global trade war, geopolitical risks, and central banks adding to their reserves. In the first quarter, central banks bought 244 tonnes of Gold."

"Poland remains the leading buyer, both in April and year-to-date. In April, the National Bank of Poland added another 12 tonnes to its reserves, lifting them to 509 tonnes. This is higher than Gold reserves at the European Central Bank, which stand at 507 tonnes."

"Despite the slowdown in purchases, central banks are likely to continue to add Gold to their reserves, given the uncertain economic environment and the efforts to diversify away from the US dollar."


Date

Created

 : 2025.06.04

Update

Last updated

 : 2025.06.04

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

Australian Dollar extends gains as sentiment improves following a Trump-Xi phone call

The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday, extending its winning streak for the third successive day. Traders await the upcoming US Nonfarm Payrolls (NFP) report, due later in the day, seeking fresh insights into the United States (US) economy.
New
update2025.06.06 10:34

PBOC sets USD/CNY reference rate at 7.1845 vs. 7.1865 previous

The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1845 as compared to the previous day's fix of 7.1865 and 7.1935 Reuters estimate.
New
update2025.06.06 10:17

Japan's Kato: Monetary policy decision is up to BoJ

Japan's Finance Minister Katsunobu Kato, when asked about the US Treasury report on exchange rate, said that the monetary policy decision is up to the Bank of Japan.
New
update2025.06.06 09:54

GBP/USD continues to find fresh highs as Greenback withers

GBP/USD tested its highest bids in over three years on Thursday, briefly climbing above the 1.3600 handle in intraday trading for the first time in 40 months.
New
update2025.06.06 08:06

NZD/JPY Price Forecast: Climbs on eased US-China tensions

NZD/JPY climbed over 0.75% on Thursday amid a session that witnessed an escalation of the Trump-Musk fight on social media, which ultimately sent Testla (TSLA) stocks plunging over 14% during the day.
New
update2025.06.06 07:38

AUD/JPY Price Forecast: Rallies above 93.00 on risk appetite, as bullish engulfing pattern looms

The AUD/JPY prolonged its gains on Thursday and edged up over 0.76% amid a risk-on impulse sparked by news that the US and China might reach an agreement as President Trump spoke with China's President Xi Jinping during the day. At the time of writing the cross-pair trades at 93.30.
New
update2025.06.06 07:09

Canadian Dollar continues to gain ground, but momentum is fizzling

The Canadian Dollar (CAD) tested fresh eight-month peaks against the US Dollar (USD) on Thursday.
New
update2025.06.06 05:02

Mexican Peso strengthens ahead of Friday's NFP data, with US-Mexico relations in focus

The Mexican Peso (MXN) is on track to extend its winning streak for a second consecutive session against the US Dollar (USD) on Thursday. 
New
update2025.06.06 04:39

WTI Price Forecast: WTI Crude Oil holds gains above $62, momentum builds for further upside

West Texas Intermediate (WTI) crude oil extends its recovery on Thursday, building on early week gains as bulls capitalize on a bullish flag breakout. At the time of writing, WTI is trading around $62.80, up nearly 1.20% on the day, and just below the intraday high of $63.30.
New
update2025.06.06 04:10

Forex Today: Could Nonfarm Payroll figures save the US Dollar?

The Greenback bounced off its weekly lows of 98.35 as China's media reported a call between US President Donald Trump and China's President Xi Jinping. Both parties mentioned the call was good and focused on trade policies and rare earths.
New
update2025.06.06 04:01

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel