Aluminum Prices Surge Toward Four-Year Highs After Gulf Smelter Strikes 
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
Goldman Sachs Sees Value in European Real Estate Stocks Despite Sharp Selloff 
Bessent: Global Oil Market Well Supplied as U.S. Eyes Hormuz Navigation Control 
U.S. Trade Rep Dismisses WTO's Future Role After Failed Cameroon Summit 
South Korea Manufacturing PMI Hits 4-Year High in March 2025 Driven by Semiconductor Demand 
South Korea's Exports Hit Record High in March on AI-Driven Chip Demand 
Oil Prices Surge to Record Monthly Highs as Middle East War Rattles Global Markets 
Japan Business Sentiment Rises as Iran War Fuels Inflation Fears, BOJ Rate Hike Looms 
Iran Strikes Oil Tanker Near Dubai Amid U.S. Threats and Ongoing Middle East Conflict 
U.S. Stocks Surge on Iran War De-escalation Hopes 
Asian Stocks Surge on Trump's Iran War Comments and Dip-Buying 
Bank of Korea Nominee Shin Hyun-song Calls for Flexible Monetary Policy Amid Iran War Risks 
U.S. Dollar Posts Strong Monthly Gain Amid Middle East Conflict Despite Late Dip 
U.S. Stock Futures Surge After WSJ Report on Trump's Iran War Exit Strategy 
Gold Prices Rebound But Head for Worst Month Since 2008 Amid Iran War Uncertainty 
Dollar Surges to Nine-Month High as Middle East Tensions Drive Safe-Haven Demand 
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.
