Central bank Gold buying recovers in May – ING

Central banks added a net 20 tonnes of Gold to global Gold reserves in May, ING's commodity experts Ewa Manthey and Warren Patterson note.

Central Banks buy more Gold

"This is 66.7% higher than the previous month, but below the 12-month average of 27 tonnes, according to the World Gold Council. Kazakhstan remained the leading buyer in May. It bought 7 tonnes, taking its net purchases so far this year to more than 14 tonnes."

"This was followed by the National Bank of Poland and the Central Bank of Turkey with net purchases of 6 tonnes each, taking total net purchases to 67 tonnes and 15 tonnes, respectively, in the first five months of the year."

Jul 3, 2025

GBP: Political noise takes its toll – ING

There was a surprisingly large sell-off in sterling yesterday after markets bought into the view that the fiscally responsible Chancellor, Rachel Reeves, could be forced to resign.

EUR/GBP eyes 0.8735 after breakout – Société Générale

EUR/GBP is extending its uptrend after defending the 200-DMA in May and breaking above recent consolidation, with momentum indicators pointing higher. The pair eyes the April high at 0.8735 and projections near 0.8780, while support rests at 0.8585/0.8575, Société Générale's FX analysts note.