Precious Metals
Gold at $4,540 vs. 244 Tons of Q1 Central Bank Buying: The Structural-vs-Tactical Tug of War
Gold hovers at $4,540 as central banks bought a net 244 tons in Q1 — PBoC has accumulated for 18 straight months — while a 4.60% ten-year yield and "higher for longer" give tactical sellers the daily edge. Knowing who's running the price right now matters more than calling the direction.