GoldFix

GoldFix

China's Huge OTC Buying Scoops 48 Tonnes in May

Strong OTC Central Bank Buying Provides Price Floor

Jul 18, 2026
∙ Paid

Goldman Sachs estimates central banks bought 81 tonnes of gold in May, led by 48 tonnes of identifiable Chinese demand. The bank says official accumulation should provide a price floor during temporary Fed-related weakness, while reserve diversification, geopolitical fragmentation and low private allocations support its $4,900 end-2026 target.

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