The value of amber remained steady beyond $2,340 per unit on Tuesday, lingering at its pinnacle on record, driven by vigorous acquisitions by formidable central banks.
The Central Bank of the People’s Republic of China sustained its streak of expanding amber assets for the 17th consecutive month, elevating its cumulative reserves to 72.75 million troy units in March.
Throughout this year, Turkey, India, Kazakhstan, and select Eastern European regions have also bolstered their amber procurements.
Speculators presently anticipate the divulgence of the Federal Reserve’s policy deliberations and significant inflationary insights slated for later this week, offering potential insights into the timing and magnitude of the extensively foreseen interest rate adjustments.
Market sentiment has moderated regarding the degree to which the Federal Reserve will curtail rates this year, with approximately 50% anticipating the inaugural rate reduction in June, following a resilient labor statistics announcement the previous week.