Vietnam Oil and Gas Group seeks to purchase 1.1 million MMBtu spot LNG

ECB's Nagel: Central banks have ample reasons to diversify their assets into gold.

European Central Bank’s Nagel: The inflation outlook in the eurozone is mainly subject to upside risks.

(1) The President of the German Bundesbank and member of the ECB Governing Council, Joachim Nagel, stated that the rising levels of government debt provide further justification for central banks to increase their gold holdings. (2) On Monday, he said that the recent rise in global government bond yields has once again enhanced the relative attractiveness of debt securities. Meanwhile, increasing debt levels have heightened market concerns over the credit risk associated with these assets; in addition, geopolitical risks may continue to influence reserve management decisions. (3) Nagel said there are still ample reasons for central banks to further diversify into gold. (4) Germany holds the world’s second-largest gold reserves, but its holdings have remained broadly stable in recent years, while other monetary policy institutions have significantly increased their purchases.