Core Viewpoint - The Central Bank of Sudan has issued new banking guidelines aimed at directing funds towards productive sectors and reconstruction projects while imposing strict restrictions on high-risk activities [1] Group 1: Banking Guidelines - Financing is now permitted for reconstruction, maintenance, and development of real estate projects, provided that the land is owned by the client [1] - Financing for the procurement of vehicles used as production materials, such as buses, long-distance coaches, human-powered vehicles, and tricycles, is allowed [1] Group 2: Restrictions on High-Risk Activities - The Central Bank has prohibited financing for foreign exchange, stock, and securities trading [1] - The ban also extends to mobile phone credit transactions [1] Group 3: Objectives of the Guidelines - These measures are designed to reduce risk and enhance currency stability [1]

Group 1 - As of April 2025, China's foreign exchange reserves reached $328.17 billion, an increase of $41 billion from March, representing a growth rate of 1.27% [1] - The rise in foreign reserves is attributed to the decline in the US dollar index, which fell approximately 4.4% in April due to expectations of a US recession and the introduction of "reciprocal tariffs" [1] - China's economic resilience and strong vitality are seen as factors that will help maintain the stability of foreign exchange reserves in the long term [1] Group 2 - As of April 2025, China's gold reserves increased to 7.377 million ounces, marking the sixth consecutive month of gold accumulation [2] - The central bank's gold purchases reflect a focus on monetary stability and serve as a response to potential inflation risks, diversifying investment amid increasing volatility in other asset classes [2] - Global central banks have collectively purchased 244 tons of gold in Q1 2023, indicating a sustained trend in gold accumulation, with expectations of over 1,000 tons purchased annually from 2022 to 2024 [2] Group 3 - The ongoing trend of global central bank gold purchases, combined with pressures from US debt monetization and the "de-dollarization" process, is expected to support a long-term bullish market for gold [3] - Various institutions are optimistic about gold prices, with UBS projecting a target of $3,500 to $3,600 per ounce by 2025, while notable fund manager Jeffrey Gundlach suggests prices could reach $4,000 per ounce [3] - The Shanghai Gold Exchange has issued a notice to its members to strengthen risk prevention measures due to significant price volatility in the international precious metals market [3]