Gold falls to $4,084 as Fed rate outlook weighs, central banks buy 79 tonnes

Gold prices slid to around $4,084 per ounce on Thursday, October 22, despite new data from Goldman Sachs showing that central banks purchased 79 tonnes of gold in August—more than four times their usual monthly amount. Goldman Sachs research published in October indicates that central bank gold acquisitions reached 79 metric tonnes last August, up from 44 tonnes in July. This figure is about 4.6 times higher than the monthly average of 17 tonnes recorded before 2022. Among central banks, China emerged as the largest identifiable buyer, with 25 tonnes added to its reserves.

Source: CoinTurk News