1. China's central bank added 320,000 ounces of gold in May, continuing a steady accumulation as prices edged lower, according to official data released on Sunday. [para. 1]2. This monthly increase was the second-largest in the current buying cycle, just below the 330,000 ounces added in December 2024. [para. 2]3. The buying streak has now reached 19 consecutive months, exceeding the previous 18-month run from November 2022 to April 2024. [para. 3]4. However, total purchases in the current cycle—2.16 million ounces—remain well below the 10.16 million ounces accumulated in the earlier period, indicating a slower pace of accumulation. [para. 4]5. Gold prices fell about 1% last month, easing from roughly $4,630 to $4,540 an ounce. During the previous buying cycle, prices were about half of current levels. [para. 5]6. The World Gold Council expects global central bank gold demand in 2026 to remain above the 10-year average, topping 600 tons, despite intermittent sales by some countries. [para. 6]AI generated, for reference only