Goldman Sachs' estimates point to central bank gold demand running well ahead of what official reserve figures capture, with China's actual purchases potentially several times the reported numbers. The bank says this accelerating buying, concentrated heavily in China, should act as a price floor even as gold faces near term pressure from hawkish Federal Reserve pricing. Goldman continues to frame elevated central bank accumulation as a multi-year structural trend tied to reserve diversification away from dollar assets, anchoring its $4,900 per troy ounce end-2026 price forecast. With private portfolio allocations to ... (full story)