Central Banks' Gold Buying Spree to Continue: Goldman Sachs Predicts $3,700 by Year-End

In this historic gold bull market, central banks worldwide are driving rising gold prices with a "gold-buying spree." Goldman Sachs estimates they're buying 80 tons of gold per month, equivalent to $8.5 billion at current prices. Most purchases are conducted secretly and privately. Data from the World Gold Council shows central banks and sovereign wealth funds collectively "sweep up" about 1,000 tons of gold annually. A survey of 72 central banks showed over a third plan to buy more gold in 2025. Gold often plays a safe haven role during periods of geopolitical tension, and its appeal has been enhanced by the rally in gold prices over the past few years.