Goldman Sachs: Central Bank Gold Purchases Hit 81 Tonnes in May, Expected to Support Prices

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According to Goldman Sachs, on July 17, central bank gold purchases are expected to support prices amid expectations of Federal Reserve tightening. Central banks purchased 81 tonnes of gold in May, with a three-month average of 67 tonnes per month—significantly higher than the pre-2022 average of 17 tonnes. The bank forecasts central bank gold purchases will average 50 tonnes and 40 tonnes per month in the next two years as nations diversify reserves to hedge geopolitical and financial risks.
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