Central banks’ May gold purchases—41 t net—continue a buying wave that has averaged a thousand tonnes a year over the last four years. A recent survey shows that nearly half of reserve managers expect to add more gold in the coming year, a record level of optimism that points to a growing confidence in the metal as a safe‑haven.
In a market that is still in a state of extreme fear, Bitcoin’s price of roughly $63,000 has only nudged up by 0.8 % over the last 24 h. The modest rally suggests that, while investors remain wary, the underlying demand for digital assets is steady. Gold’s increased appeal could reinforce the idea that physical assets are a reliable hedge against inflation and policy shifts, potentially drawing some risk‑averse capital away from crypto.
For retail readers, the key takeaway is that central‑bank gold buying may tighten the risk‑off sentiment further, which could keep crypto prices on a cautious path. Keep an eye on the next quarterly gold purchase reports and any changes in monetary policy that might shift the balance between gold and digital assets.