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Goldman Sachs maintains its year-end 2027 target price for gold at $5,400/oz, stating that central bank gold purchases are a structural support.
Goldman Sachs maintained its year-end 2027 target price for gold at $5,400/oz, and raised its assumption for central bank gold purchases to an average of 60 tons per month between 2026 and 2027. Goldman Sachs believes that sustained central bank gold purchases are the anchor for gold prices, contributing the vast majority of its expected 23% increase.
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Previous: Goldman Sachs reported that global central banks purchased 79 tons of gold in August, significantly exceeding the historical monthly average of 17 tons, reaching an annualized purchase rate of 1,000 tons. The People's Bank of China was identified as the largest buyer.
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