Repeated central‐bank buying is underpinning gold’s long-term price strength. Metals Focus estimates 1,000 tonnes of official accumulation in 2025—marking the fourth consecutive year of heavy central-bank demandyoutube.com+15reuters.com+15cbsnews.com+15reuters.com.
Key drivers:
- Continued de-dollarization amid geopolitical and fiscal pressures reuters.com+1reuters.com+1.
- China, Poland, Azerbaijan, Iran, and others leading the buying spreeeconomictimes.indiatimes.com+5reuters.com+5facebook.com+5.
- Goldman Sachs forecasts $3,700/oz by year-end; some outlooks expect prices to reach $4,000–$5,000 within 12–24 months, supported by central-bank momentumreuters.com+1thetimes.co.uk+1ssga.com+3discoveryalert.com.au+3jpmorgan.com+3reuters.com.
Strategic implications:
- Long-term investors should consider ETF or physical exposure now, as institutional inflows continue.
- Monitor Treasury yields—sharp rises could slow institutional flows, but sustained geopolitical risk supports them.
