China’s Central Bank Continues Gold Purchases Amid Market Slowdown
China’s central bank added to its gold reserves for the 15th month running Friday, reinforcing solid official demand after bullion’s record-breaking bull run suffered from a massive rout late last month.
Rising Chinese gold reserves, evolving US-Iran negotiations, and the growth of the blockchain creator economy are shaping global financial and market trends.
Gold reserves held by the People’s Bank of China rose by 40,000 troy ounces in January, data Saturday showed. The central bank started its latest central bank gold buying in November 2024.
People's Bank of China Gold Buying Continues in January for the 15th Month. Demand remains solid for gold in China as the PBOC added to its reserves for the 15th month in a row. Expectation of strong demand from China, the world’s biggest gold consumer, could provide some support to gold market demand & price trends.
Iranian President Masoud Pezeshkian hailed Friday’s nuclear negotiations with the US as “a step forward,” while warning against attempts to intimidate Tehran. Iranian Foreign Minister Abbas Araghchi said Saturday that negotiations must be done without threat.
“It’s one more step forward,” Trump said Friday after the talks concluded. “If they don’t make a deal, the consequences are very steep.” All eyes will be on U.S.-Iran developments as they continue to negotiate. Positive momentum will continue to weigh on the precious metals industry.
While the blockchain creator economy growth all the challenges that content creators face, it does provide new methods for them to make money. More importantly, these methods allow creators to retain more of their earnings. For example, blockchain allows artists, musicians, and writers to sell content to fans in the form of NFTs without needing a middleman platform to take a percentage.
