Data shows central banks continue to accumulate gold, buying even as prices rise

ING have a rundown on the latest data via the IMF on central bank gold purchases.

• continued to purchase gold over the month of July even as spot gold prices made multi-year highs
• Russia, Kazakhstan, China gold reserves all higher

The Market Profile folks will tell you that buying activity from the 'Other Time Frame' trader is supportive.

OTF, such as these central banks in gold, buy. And then don't sell.

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Posts on gold over the past 24 hours:

• Gold's long-term move is 'up, up and up'
• Gold is bullish, as long as the Fed is dovish
• Gold pushes higher towards key near-term levels amid softer risk flows
• Analyst says gold set for consolidation lower (short term)