Central Banks Increase Gold Purchases: World Gold Council Announces Year-End Forecast

Central banks continue to view the decline in gold prices as a buying opportunity. The World Gold Council's year-end expectations indicate that this trend is persisting. China increased its reserves to 2,435 tons by purchasing 26 tons of gold in October. Poland announced that it has reached its gold reserve target of 700 tons. These developments demonstrate the importance central banks place on gold in their reserve diversification strategies. Global central banks' gold purchases in the third quarter increased by 42% year-on-year. This increase underscores the strong momentum in official sector gold demand. The World Gold Council's year-end forecast suggests that central bank purchases will continue to influence prices. Institutional demand remains one of the key factors shaping the supply-demand balance in the gold market. Not investment advice.

📊 GLD — Piyasa Yorumu

▲ up · 55%

Central banks' increased gold purchases create a structural demand support for GLD, and the news provides a favorable backdrop over the medium to long term. However, short-term indicators are mixed: RSI at 43 sits in neutral-to-weak territory, and MACD is negative below its signal line, indicating that momentum has not yet strengthened. It is noteworthy that the price is well above the SMA20 and SMA50; this suggests a possible inconsistency in the data source and warrants cautious interpretation. The news impact may remain limited over 1-3 days; the main catalyst is expected to be the continuity of central bank purchases. I therefore see the direction as slightly positive but keep confidence at a moderate level.

RSI 14

43.0

MACD

-0.40

24h Δ

0.27%

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