Central banks are buying the dip in gold

By Preeti Soni and Jack Ryan Bloomberg News Wednesday, April 29, 2026 Central banks added gold holdings at the fastest pace in more than a year in the first quarter, as a slump in prices encouraged a wave of buying that more than offset sales by a handful of institutions. Net official-sector purchases totaled 244 tons in the three months, up from 208 tons in the previous quarter, according to estimates from the World Gold Council, an industry body. Poland, Uzbekistan, and China were the largest reported buyers, although some other purchases were undeclared. ... Dispatch continues below ... ... ADVERTISEMENT ... Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico Guanajuato Silver is a precious metals producer reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo Mines Complex, Valenciana Mines Complex, and the San Ignacio mine. All three mines are located within the state of Guanajuato, which has a 480-year mining history. Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango state.  With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico. For more information, please visit: http://www.gsilver.com/ Gold prices have swung wildly this year, hitting a record in late January, before slumping in March after the outbreak of the U.S.-Iran war. Among factors weighing on bullion were soaring energy prices, which raised expectations that central banks will keep borrowing costs steady or even hike them to contain inflation. That's a headwind for the metal, which does not bear interest. "It's the first time in a while that we've seen a decent correction in gold," said John Reade, chief strategist at the London-based World Gold Council. "That has allowed central banks that might have been hanging back, waiting for exactly this opportunity, to come in and scoop up a load." ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2026-04-29/central-banks-scoop-up-a-load-of-gold-in-bumpy-first-quarter * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png