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Central bankers are still buying gold after record bull run

Central bankers are still buying gold after record bull run

[Gold Newsletter #266] $XAUUSD 3363.70 News: Safe-haven gold rises on weak data, simmering uncertainty

June 05, 2025

A summary of the most important gold news and analysis of the last week.

Gold price USD/OZ: $3,363.70 [View live gold price.]

Change from last week: $59.86 (0.77%)

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Gold news

• Safe-haven gold rises on weak data, simmering uncertainty [Reuters]

• Central bankers are still buying gold after record bull run (archive) [Bloomberg]

"Central banks and sovereign wealth funds doubled the pace of their gold purchases in the past three years. They just aren’t declaring them."

• Gold bars and coins lag ETF demand, volatile solar sector creates two-sided risk for silver prices – Heraeus [Kitco]

• Central banks on track for 4th year of massive gold purchases, Metals Focus says [Reuters]

• Central banks add 12 tonnes to gold reserves in April as African CBs announce purchase plans – World Gold Council [Kitco]

• Why central banks are quietly fueling the global gold rally [equiti]

"A historic gold-buying spree by central banks is reshaping global reserves, signaling a broader shift away from the US dollar amid rising geopolitical and economic uncertainty."

• Gold could test US$4,000 an ounce amid fiscal fears, escalating trade tensions: market watchers [The Business Times]

"While gold has cemented itself above US$3,000 an ounce in 2025 amid trade uncertainty and US fiscal fears, a bullish forecast could see US$4,000 an ounce within a year’s time, said market watchers."

• Gold tipped to hit $US4000 if greenback continues slide [AFR]

🌐 World gold news

"More than an investment, precious metal holds special significance in country where gold is in social fabric."

🇮🇶 Iraq

• CBI: Iraq’s reserves surpass $100 billion and 160 tonnes of gold [PUKmedia]

🇰🇿 Kazakhstan

• Kazakhstan's central bank plans further currency sales to mirror gold purchases [Reuters]

🇸🇬 Singapore

• Is Singapore the new Switzerland? Why the ultra-rich are parking their gold here [Times Now]

🇨🇭 Switzerland

• Gold flowing back from the United States to Switzerland – Commerzbank [FXStreet]

🇹🇭 Thailand

• Thai undertaker sells gold recovered after cremations [Bangkok Post]

"Man says gold dental work often donated by relatives of the deceased."

🇦🇪 United Arab Emirates

• World’s largest gold frame unveiled at Sharjah watch and jewellery show [Gulf News]

🇬🇧 United Kingdom

• Royal Mint brings in easy way to authenticate gold bars after ‘unprecedented demand’ [Independent]

"The Britannia bullion bar range features advanced security technology already available on the Royal Mint’s coins."

🇺🇿 Uzbekistan

• Uzbekistan remains world’s top gold seller for third month running [Daryo]

🇻🇳 Vietnam

• Ending monopoly, removing bottlenecks in gold market in Vietnam [Tuoi Tre News]

"After nearly 13 years under Decree 24, Vietnam’s gold market is on the verge of a turning point as the state monopoly on gold bullion is set to be lifted. Alongside that, many bottlenecks in the market are also expected to be resolved."

🇿🇼 Zimbabwe

• Zimbabwe gold reserves rise to 3 tonnes [Zw News Zimbabwe]

Gold-backed cryptocurrency

• USDT0 launches omnichain version of Tether gold stablecoin on TON [Coin Telegraph]

• Why Ghana must only accept gold and silver-backed cryptocurrencies [Graphic Online]

Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice. For advertising and news submission requests, contact us.

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