China's Secret Gold Play Fuels Goldman's $4,900 Target

Goldman Sachs expects a significant wave of central-bank gold purchases for November. The bank’s outlook anticipates a continued shift in reserve management as policymakers hedge against geopolitical and financial risks.According to Reuters, Goldman’s latest estimates indicate 64 tons in September, a significant increase from the 21 tons projected for August. The estimate supports strong buying through year-end, as emerging-market central banks continue to purchase.Yet, a large portion of these purchases is not publicly reported. The World Gold Council estimates that as little as one-third of global central bank buying is reported to the IMF. The number is down from roughly 90% only four years ago.Also Read: Peter Schiff Says Bitcoin’s Bear Market Looks’ Far More Ferocious’ When Compared With Gold, Is A Structural Shift Underway?China’s Hidden Accumulation StrategyChina is a prime example ...Full story available on Benzinga.comWeiter zum vollständigen Artikel bei Benzinga Weiter zum vollständigen Artikel bei Benzinga