Weekly Markets Monitor
Weekly Markets Monitor - Jail break or head fake?
A data light shortened week in the US put the spotlight on Fed Chairman Warsh’s first meeting and a perceived ‘hawkish pause’. Sentiment was however aided by signing of a Memorandum of Understanding between the US and Iran.
Kavita Chacko
Research Head, India World Gold CouncilIndia gold market update: Demand cools
India’s gold market cooled in May as higher duties, elevated domestic prices and seasonal softness weighed on demand. Physical buying softened across jewellery, bars and coins, while imports fell from the previous month. ETF investors booked profits after the price rally following the duty hike, resulting in record May outflows before inflows resumed in June; digital gold buying also slowed, though it remained above average.
Ray Jia
Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold CouncilChina gold market update: Official buying accelerated in May
China’s official gold holdings saw a 10t rise in May, reaching 2,332t (9% of total reserves), the largest reported increase since December 2024. Yet wholesale gold demand fell notably, dented by both seasonal weakness in the jewellery sector and cooling investment momentum – monthly gold ETF flows turned negative for the first time since last August.
Unearthed Podcast
World Gold CouncilUnearthed: Supply, Strategy, and the Road to $6,000 ft Nicky Shiels, MKS PAMP
In this episode of Unearthed, hosts John Reade and Joe Cavatoni are joined by Nicky Shiels, Head of Research and Metal Strategy at MKS PAMP – one of the world's leading precious metals refiners and trading houses.
Marissa Salim
Senior Research Lead, APAC World Gold CouncilCentral bank gold statistics: Central banks resume net buying in April
Central banks resumed net gold purchases in April, having bought 17t. This was a rebound from the sizeable net sales reported in March. Poland remained be the top buyer in the month (14t), while China intensified its pace of purchases: its 8t net purchase is the highest since December 2024 and extends its current buying run to 18 consecutive months. The Czech Republic shows similar consistency in purchases, having bought 3t in April, its 38th consecutive monthly purchase. Meanwhile, Russia continues its sales streak this month (6t), with y-t-d sales of 22t.
