Employment news out of the US on Friday which could mean interest rates coming down later than usual, coupled with the news that China didn't officially buy any gold during May. Gold has run to an ATH - and wouldn't be beyond the realms of belief for China to recommence buying once the price has settled down.
Interestingly, although China only bought 2t in April, Turkey bought 8t. Another country that wants to join BRICS block. In fact - Turkey has bought more gold this year than China. Will be interesting to see what Turkey purchased during May
https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2024/central-banks
Owning gold or gold mine, page-19
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