Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
China’s Gold Reserves Steady; Value Rises with Market Trends
China’s central bank refrained from purchasing additional gold for the fifth consecutive month in September due to rising gold prices, as per official data. The country's gold reserves stayed at 72.8 million troy ounces, while their value increased from $182.98 billion in August to $191.47 billion by the end of September.
Gold Price Surge Influences Central Bank Decisions
Gold prices have soared approximately 28% this year, heading for their biggest annual gain in 14 years. The surge is attributed to U.S. Federal Reserve interest rate cuts, rising geopolitical tensions, and continued demand from global central banks.
Global Trends: Central Bank Gold Buying Expected to Slow in 2024
According to the World Gold Council, central bank gold purchases are expected to slow in 2024 compared to 2023, though they are predicted to remain higher than pre-2022 levels. This deceleration partly reflects the People's Bank of China’s (PBOC) decision to halt purchases after an 18-month buying streak that ended in May.
China's Strategic Timing in Gold Accumulation
As the world's largest official sector gold buyer in 2023, the PBOC’s pause has softened domestic investor demand. Nitesh Shah, a commodity strategist at WisdomTree, suggests the PBOC may be holding off on new purchases to find a more attractive price entry. However, given rising geopolitical tensions and declining global interest rates, such an opportunity may be delayed. Shah forecasts that gold prices could surpass $3,000/oz in the coming year, urging the PBOC to potentially resume accumulation sooner.
