Central Banks Signal Continued Inflation Fight

Multiple major central banks reiterated a hawkish stance on inflation, potentially signaling further interest rate increases. Officials from the US Federal Reserve, Bank of Canada, and European Central Bank highlighted persistent inflation risks, while the Bank of England proceeded with a rate hike and warned that upside inflation risks remain.

Market Risk Aversion Rises Amid Equity Sell-Off

A sharp sell-off in US equities, led by technology and AI-related stocks, increased risk aversion in the broader financial markets. This flight-to-safety dynamic contributed to a weaker US Dollar and a notable strengthening of the Japanese Yen as investors sought out safe-haven assets.

Miner Operations and Central Bank Demand in Focus

Developments in the physical gold market included Poland's central bank indicating it may continue to expand its gold reserves. On the supply side, company news highlighted both future growth, with AngloGold planning a major mine expansion, and operational headwinds, as B2Gold faces production challenges at its Goose mine.