Goldman Sachs: Central Banks in Various Countries May Massively Purchase Gold in November, Maintaining a Gold Price Expectation of 4900 by the End of Next Year

Golden Finance reports that Goldman Sachs stated that central banks around the world may have purchased a large amount of gold in November, which is a trend to diversify reserves for hedging geopolitical and financial risks that has been ongoing for years. Goldman Sachs reiterated in a report that gold prices are expected to reach $4,900 by the end of 2026, and if private investors continue to diversify their portfolios, gold prices may rise further. So far this year, gold prices have risen by 55%, mainly driven by economic and geopolitical concerns, increased inflows into exchange-traded funds, and expectations of further interest rate cuts in the U.S. Goldman Sachs estimates that central bank purchases in September amounted to 64 tons, up from 21 tons in August.