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Why countries are stocking up on gold
[Gold Newsletter #314] Gold Price: $4,726.29 News: Gold and silver’s historic rally could resume ‘as fog of war lifts’, China adds to gold reserves for 18th straight month. Gold price forecasts: $5,200 to $8,000.
A summary of the most important gold news and analysis of the last week.
Gold price
Gold price: $4,726.29 $XAUUSD ( 0.0% ) [View live gold price.]
Change from last week: $133.77 (2.91%)
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Gold news
This week’s summary of gold news and analysis.
• This gold-timing indicator just hit a bottom — and history says a strong rally is next [MarketWatch]
"Gold and gold miners perform best right after investors give up. This ‘extreme pessimism’ is the contrarian tailwind the market has been waiting for."
• Why countries are stocking up on gold ($) [The New York Times]
"As risk has escalated, central banks have bought more gold to stash in reserve. A widening Middle East war could add to the urgency."
• Gold consolidates in $4,600-$4,800 range for almost 2 months. A big rally brewing in May? [The Economic Times]
• Gold investing fever cools fastest in 14 years [BullionVault]
🔮 Gold price forecasts
• Morgan Stanley sees gold at $5,200 (Central bank buys, Fed cuts), fear trade is now dead [Investing Live]
• Bank of America stands firm on 12-month $6,000 gold target, sees silver averaging $86 in 2026 [Kitco]
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🌐 World gold news
Gold news from a global perspective.
🇰🇭 Cambodia
• Cambodia expands extractive capacity with launch of new $40 million gold refinery [Construction & Property]
🇨🇳 China
• China adds to gold reserves for 18th straight month [China Daily]
"Data released by the People's Bank of China on Thursday showed that the PBOC added 260,000 ounces to China's gold reserves last month — marking the largest monthly addition since December 2024, according to market tracker Wind Info — taking the country's official gold holdings to 74.64 million ounces at the end of April, up from 74.38 million ounces at the end of March."
• Gold futures set for Hong Kong comeback as mainland China’s appetite for the metal grows ($) [SCMP]
"City aims to broaden gold offerings and expand clearing and storage facilities to seize opportunities in the surging market."
"Gold traders from the Middle East and Russia have been selling physical gold in Hong Kong at a discount of 15 to 20 per cent since early April."
🇬🇭 Ghana
• Ghana presses large-scale miners to back gold reserve drive [News Ghana]
🇮🇳 India
• India continues to bring its gold home [GoldSeek]
🇸🇬 Singapore
🇹🇭 Thailand
• Strong prices and risk lift Thai gold demand [Bangkok Post]
"Thailand's investment in gold bars and coins hit a seven-year high in the first quarter, rising 35% year-on-year to 10 tonnes as growing economic and political uncertainty underpinned the metal's safe-haven appeal in the country, says the World Gold Council (WGC)."
🇦🇪 United Arab Emirates
🇺🇿 Uzbekistan
🇻🇳 Vietnam
• Gold borrowing proposal sparks concerns over risks, goldisation [Viet Nam News]
"The proposal to allow businesses to borrow gold from the public has triggered concerns over how to effectively to unlock the vast idle assets for production while preventing risks and safeguarding system security."
🇿🇼 Zimbabwe
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• Tether Gold reserves surge 36% in Q1 to $3.3 billion as uncertainty drives demand for hard assets [Kitco]
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Gold Weekly features curated articles from various sources and is not financial advice.
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goldweeklynews @ gmail . com.
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