Gold forecasts fall, but central bank buying expected to cushion retreat - KITCO
Gold forecasts fall, but central bank buying expected to cushion retreat - KITCO
Source: KITCO
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DW NOTE
Gold has fallen 23% from its January peak of $5,318, and forecasters are now revising down their projections — after the move, naturally. Central banks bought 1,136 tonnes in 2023 and similar volumes since, but that demand did not prevent this year's drawdown. The cushion thesis assumes price-insensitive buying can offset momentum selling. It cannot. It can slow the descent, but official sector accumulation sets a floor only when private sellers have exhausted themselves — not before.