Large Asset Managers Rebuild Gold Positions Amid Ongoing Central Bank Demand

The price of gold dipped by 1.12% over the past week, but its resilience compared to other precious metals remains evident.

Despite a robust U.S. labor market data and stronger dollar and Treasury yields, central banks continue to accumulate gold reserves.

Latin American central banks, such as Uruguay and Bolivia, are diversifying their reserves into gold, while some of the world's largest asset managers have been rebuilding their gold positions.

Bloomberg reported that firms managing a combined $27 trillion in assets have maintained or increased their gold exposure despite uncertainty around the Federal Reserve's policy path.