Chinese dip-buying bolsters gold as prices find floor at $4,000

Chinese institutional investors have made significant purchases of gold, helping to maintain the price of the precious metal above the $4,000 per ounce mark, according to Bloomberg Markets. This development comes amid a continued increase in China’s gold reserves, as the People’s Bank of China reported its 20th consecutive monthly increase in holdings in June. The central bank’s latest acquisition of 480,000 ounces was the largest monthly addition since October 2023. The ongoing demand from China, both at the institutional and official levels, appears to reinforce the support for gold prices at current levels. The activity in the gold market suggests that Chinese demand is playing a crucial role in stabilizing prices. Markets have noted a slight uptick in the probability of gold reaching significant price milestones by the end of December 2026. As of now, the possibility of gold hitting $15,000 per ounce is priced at 2.5%, reflecting a small increase from earlier percentages. Factors such as central bank purchases and geopolitical tensions could further influence these probabilities. The current market pricing indicates that while reaching $15,000 remains unlikely, the strong deman...