该行续指，投机性需求下降而央行购金增加，这两股相反力量有效地相互抵消，在过去几个月里使金价保持在区间波动。央行购金仍将是长期金价的关键驱动因素。该行预计到2026年中期，每月平均购买量将达到38吨。Jinwu Financial News | Golden Industrial Concept stocks experienced a general decline. As of the time of writing, LINGBAO GOLD (03330) fell by 4%, SD GOLD (01787) decreased by 1.62%, ZHAOJIN MINING (01818) dropped by 1.40%, and Zijin Mining Group (02899) decreased by 0.83%.
In terms of news, Goldman Sachs released a Research Report indicating that as the market expects the Federal Reserve to reduce interest rates this year from 100 basis points to 75 basis points, the firm anticipates that Gold will not reach $3000 per ounce by the end of this year and has postponed this prediction to mid-2026.
The firm noted that the Federal Reserve will slow down the pace of interest rate cuts this year, which will suppress demand for Gold ETF. After the uncertainty of the U.S. election decreases, the inflow of funds into the ETF last December was below expectations, leading to a lower starting point for pricing in the new year. It is expected that the Gold price will reach $2910 per ounce by the end of the year.
The firm continued to state that the decline in speculative demand and the increase in central bank gold purchases effectively counterbalance each other, keeping Gold prices within a Range of fluctuation over the past few months. Central bank gold purchases will remain a key driver of long-term Gold prices. The firm expects the average monthly purchase volume to reach 38 tons by mid-2026.