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Central bank Gold purchases rebound to record 289 tons in Q2
BNY, citing World Gold Council data, expects official sector buying to ease below 2025 levels while ETF outflows and weak mining flows leave investor confidence fragile.
BNY’s Geoff Yu points to World Gold Council data showing a sharp rebound in central bank Gold buying, with purchases rising to a record 289 tons in Q2 after a very weak Q1, led by Poland and China, according to FXStreet.
Even with the rebound, the council expects official sector demand to cool, falling below 2025 levels, the note adds.
BNY also flags signs of weaker private demand, saying ETF outflows and weak mining flows suggest investor confidence in Gold prices remains fragile.
The commentary appears alongside FXStreet’s broader market check, where Gold was hovering near its daily open and investors were turning to upcoming US second-quarter GDP readings.
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