Analyst: Global central banks may buy a large amount of gold, driving gold prices to new highs

On April 8th, during Asian trading on Monday, gold prices suddenly rose nearly $27 in the short term, breaking through the $2350 mark and setting a new historical high of $2354. Analysts have indicated that although the geopolitical tensions between Israel and Hamas have eased and the possibility of the Federal Reserve cutting interest rates in June has also decreased, gold prices have continued their record high rise, mainly due to news that global central banks may purchase gold in large quantities. Data released on Sunday earlier showed that the People's Bank of China increased its holdings of gold reserves for the 17th consecutive month in March.