Goldman Sachs predicts that central banks in various countries are expected to increase their efforts to buy gold, and estimates that the price of gold could reach $5,400 by the end of the year.

According to Goldman Sachs, central banks around the world are expected to increase their buying of gold, helping the price of gold to rebound by the end of this year. Analysts Lina Thomas and Daan Struyven stated in a report dated May 15 that gold purchases in 2026 are expected to increase to an average of 60 tons per month. Based on a revised official gold purchasing estimation model, the 12-month moving average of purchases as of March this year was 50 tons, higher than the previous 29 tons. The analysts cited an internal survey indicating that central banks have a "strong fundamental demand" for gold, and recent geopolitical developments may further strengthen the trend of diversifying reserves. Goldman Sachs maintains a bullish stance, estimating that the price of gold could rise to $5,400 per ounce by the end of this year, with UBS Group and ANZ Bank previously sharing a similar optimistic view.