A post by @FirstSquawk on X.
CHINA’S CENTRAL BANK EXTENDED ITS GOLD-BUYING STREAK TO 24 CONSECUTIVE MONTHS IN OCTOBER, WITH CENTRAL BANKS COLLECTIVELY PURCHASING A NET 321 TONS IN Q3, THE HIGHEST SINCE LATE 2024, WHILE SILVER GAINED 1.7% TO $52.82 AN OUNCE
@FirstSquawk on X
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Silver rose 1.7% to $52.82 an ounce alongside the continued official-sector demand. The sustained accumulation signals that reserve managers remain focused on diversifying holdings and hedging against currency and geopolitical risks. The Q3 total marks a notable acceleration in sovereign buying, reinforcing gold’s role as a strategic reserve asset. Investors will watch whether China’s streak continues into year-end and whether other central banks sustain the elevated pace of purchases.
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Named in this story
gold (XAU), China's central bank, silver (XAG)
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