Goldman Sachs sees continued central bank gold buying

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A summary of the most important gold news and analysis of the last week.

Gold price

Gold price: $4,055.68 $XAUUSD ( 0.0% ) [View live gold price.]

Change from last week: -$125.39 (-3%)

Gold news

This week’s summary of gold news and analysis.

• Shakeout in the gold price and correlation with risk appetite leaves central banks as its main buyers [MarketWatch]

• Gold bulls tire at $4,200 as prices build a floor at $4,000 [Kitco]

• Goldman Sachs sees continued central bank gold buying in November [Reuters]

• ‘Bond King’ Jeffrey Gundlach says there’s no doubt ‘we’re in a mania,’ but gold is a ‘real asset class’ [Fortune]

"Jeffrey Gundlach, founder and CEO of DoubleLine Capital, has delivered a striking assessment of the current investment landscape, arguing the U.S. equity market is engulfed in a “mania” while simultaneously identifying gold as the primary refuge, elevating the metal to the status of a “real asset class.”"

🔮 Gold price forecasts

• UBS raises upside case for gold to $4,900/oz by Q2 2026 on political and financial risks [Kitco]

• Gold to stay volatile but strong; $5,000 target in sight, says Kama Jewelry MD [CNBCTV 18]

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🌐 World gold news

Gold news from a global perspective.

🇦🇺 Australia

• 'Not just fear': Why some Australians are sending their gold overseas [SBS News]

🇨🇳 China

• China’s secretive gold purchases help fuel record rally [The Business Times]

"A growing number of unreported transactions presents a challenge for bullion market traders."

• China chases gold supremacy as it builds a U.S. dollar alternative [Forbes]

• China-led central bank gold buying spree could stress global markets - SocGen [Kitco]

• China hits third 1,000-tonne gold belt this year that holds ‘all treasures’ [SCMP]

"Engineers believe the new discoveries suggest Chinese gold reserves could be much larger than previously thought."

🇪🇬 Egypt

• Egypt adds EGP 1.65 billion in seized gold to central bank reserves [Egyptian Streets]

🇫🇷 France

• Honesty doesn’t pay for Frenchman who found gold bars in his garden (archive) [The Times]

"The buried hoard of bars and coins, estimated to be worth €700,000, is likely to go to the children of the previous owner."

🇮🇳 India

• Gold Hoarding | India’s households collectively hold more gold than any central bank [Mining]

🇮🇩 Indonesia

• Indonesia plans taxes of up to 15% on gold exports from 2026 [Reuters]

🇮🇹 Italy

• Italy lawmakers revive state claim on central bank's $300 billion gold pile [Reuters]

🇷🇺 Russia

• Russia's central bank says its operations with gold are increasing [Reuters]

🇹🇷 Türkiye

• Gold deposit accounts surge in Turkey as people try to cope with runaway inflation [FXStreet]

🇺🇸 United States

• Believe it or not, that $12 million gold toilet was bought by … Ripley’s (archive) [NY Times]

🇻🇳 Vietnam

• Central bank mulls raising gold position limit for lenders [VietnamPlus]

🇿🇼 Zimbabwe

• Zimbabwe’s gold-backed reserves near $1 billion mark [Channel Africa]

Gold-backed cryptocurrency

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• Tether’s gold hoard surges to 116 tons, rivals small central banks [CoinDesk]

• Kyrgyzstan issues 50 million gold-backed USDKG tokens [24 KG]

Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice.

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