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G Sachs: CN Gold Reserves Add 15 Tons in Sep; Gold Price Estimated at US$4,900 by End-2026
2025-11-18 08:13:21 Goldman Sachs released a report predicting that central banks purchased up to 64 tons of gold in September, more than triple the amount bought in August. Among them, China increased its gold reserves by approximately 15 tons in September. The gold price hit a historical high of over US$4,380 per ounce in October but ebbed back in recent weeks. Spot gold last dipped 0.23% to US$4,036.85, and gold futures for December delivery sagged 1.01% to US$4,034. Goldman stated that the purchasing momentum by central banks is likely to persist into November, as they diversify reserves to hedge against geopolitical and financial risks. The bank maintained its forecast that central banks will purchase an average of 80 tons of gold per month from the fourth quarter of this year to next year. Goldman expected that, under the Federal Reserve's accommodative monetary policy, gold prices will touch US$4,900 per ounce by the end of next year. ~ AASTOCKS Financial News Website: www.aastocks.com | |