Central banks and official institutions globally increased their gold reserves by 289 tons in the second quarter, a 62% year-over-year rise, according to the World Gold Council. This surge indicates a rebound in gold purchases by various central banks. In contrast, China's gold demand, encompassing jewelry, bars, ETFs, and industrial use, fell by 41% to 155 tons, marking its weakest second quarter since 2022, primarily due to a 28% drop in jewelry demand and 22 tons of outflows from gold ETFs. AI
RANK_REASON This cluster reports on market trends and demand figures for gold, rather than a specific event like a product release or funding round.
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