China's Central Bank Extends Gold Buying Streak to 19 Months

The People's Bank of China (PBOC) added to its gold reserves in May, extending its uninterrupted buying streak to 19 months. This marks the longest continuous gold purchasing period by the bank since at least 2015. The PBOC's gold purchases are seen as part of a reserve diversification strategy amid global economic uncertainties and geopolitical risks. The central bank is reducing its dollar-heavy reserves and shifting toward safe-haven assets like gold. This move boosts China's gold demand while providing supportive effects on global gold prices. Experts note that if the PBOC continues its purchases, the supply-demand balance in the gold market could be affected. This is not investment advice.

📊 GLD — Piyasa Yorumu

▲ up · 60%

The news indicates that the People's Bank of China has continued its gold purchases for 19 consecutive months, demonstrating sustained institutional demand for gold and providing a positive fundamental backdrop for GLD. However, technical indicators are in oversold territory (RSI at 24.2), and the price remains below both the 20-day and 50-day moving averages. While there is potential for a short-term technical rebound, weak momentum suggests that any upside may be limited.

RSI 14

24.2

MACD

-3.83

24h Δ

-3.82%

📊 GOLD — Piyasa Yorumu

▲ up · 60%

The People's Bank of China's continued gold purchases for 19 months indicate robust institutional demand for the precious metal. While this news provides a positive foundation for gold prices, technical indicators point to short-term weakness. The RSI stands at 42, and the MACD is below its signal line, suggesting momentum has yet to recover. The price is trading below both the 20-day and 50-day moving averages, confirming near-term pressure. The positive impact of the news may be limited by technical resistance, so the strength of any upward movement could remain constrained.

RSI 14

42.6

MACD

-0.26

24h Δ

-2.00%

Canlı Grafikler