Central banks accelerate gold purchases amid geopolitical uncertainty. Goldman Sachs projects central bank gold buying will average 60 tons monthly throughout 2026, up from 50 tons in March, driven by diversification concerns and geopolitical tensions. The World Gold Council reported 244 tons purchased in Q1, signaling sustained demand. Despite spot gold trading near $4,530 per ounce compared to January's record of $5,600, Goldman maintains a bullish year-end target of $5,400. The bank revised its accumulation framework using updated methodology, noting that recent geopolitical developments reinforce central banks' interest in gold reserves. Short-term volatility remains as investors may liquidate gold positions if equity markets decline amid higher interest rates and economic weakness.
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