According to the World Gold Council's central bank gold buying monthly report released this week, global central banks net purchased 19 tons of gold in February 2026. Although this figure remains below the reported monthly average of 26 tons for 2025, it represents a recovery compared to the net purchase of 5 tons in January 2026. The World Gold Council stated that the February situation appears to indicate a rebound in central bank gold purchases after a quiet January, highlighting central banks' recognition and persistence in viewing gold as a reserve asset. Furthermore, the report shows that some central banks have maintained continuous net buying records for gold, with cumulative purchases reaching 44 tons from November 2024 to February 2026. The Czech Republic reported its 36th consecutive month of net purchases. China increased its gold holdings for the 16th consecutive month.
A Goldman Sachs research report at the end of March pointed out that, supported by continued gold purchases from central banks globally and the expectation that the Federal Reserve will cut interest rates twice more this year, the medium-term outlook for gold remains solid. The gold price is expected to climb to $5,400 per ounce by year-end. UBS, also at the end of March, forecasted that the target price for gold will reach $5,900 per ounce by early 2027. (Caijing Magazine)