Metal Analysis Report 5/7/19 – Gold…A Great Position Trade

First-quarter gold purchases by central banks, led by Russia and China, were the highest in six years as countries diversify their assets away from the U.S. dollar.Global gold reserves rose 145.5 tons in the first quarter, a 68 percent increase from a year earlier, the World Gold Council said Thursday in a report.Central bank purchases have been a key support for gold, helping to offset lower demand from bar and coin investors as well as from industrial users of the metal. Gold has lost 1 percent so far this year, and was trading at about $1,270 an ounce in London

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