Gold Rises as Central Banks Buy, Western Funds Sell

The gold market experienced a significant surge last week, with prices rising to $4,401.40 per ounce after a weak US jobs report for July triggered a 2.37 percent jump in bullion on Friday.

This marked the most forceful move in months, yet beneath the surface lies a striking divergence in who is buying and selling gold.

A central bank buying spree continues to drive demand, with net purchases reaching 288.9 tonnes in the second quarter of this year, a 62 percent increase year over year.

Poland was among the most active buyers, followed closely by China, which continued to build its reserves.