Global central banks are experiencing significant divergence, with some beginning to sell off gold aggressively.

The Turkish central bank started liquidating gold from March 13, selling for three consecutive weeks, totaling 126 tons.
The Polish central bank announced a plan on March 4 to reduce its reserves by selling some gold holdings, raising approximately $13 billion, which is about 70 tons of gold. Last year, Poland bought a total of 102 tons; now, they plan to sell 70 tons, roughly 70% of their holdings. It seems they made a substantial profit and are looking to make a short-term move.
Additionally, the Russian, Kazakhstani, Kyrgyzstan, and Bulgarian central banks have all slightly reduced their gold holdings to varying degrees.
Last year, almost all central banks acted surprisingly uniformly: they were buying gold.
This year, after gold peaked and then plummeted, the consensus among central banks was broken. Some banks with unrealized gains have started selling to cash out.
Although gold has experienced two major declines, it still remains near a secondary high. Compared to its peak, it has fallen 17% and entered a technical bear market. Historically, from the peak to a bear market, the current decline and the adjustment period are still far from over.
Gold may rebound later, but it probably won't reach previous highs. Every rebound is an opportunity to escape.
If you don't escape in time, the prolonged bear market could wipe out most retail investors. Many won't survive to see the next gold bull market. #黄金白银走高