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 ...