Goldman Sachs: Central banks around the world continue to buy gold enthusiastically, with the expectation that the price of gold will rise to $4000 by mid next year.

Goldman Sachs pointed out that central banks and other institutions purchased an average of approximately 77 tons of gold per month from January to May this year. Goldman Sachs still expects gold prices to reach new highs in the coming quarters. Goldman Sachs also pointed out that the net positions of gold funds have fallen from their highs in April, providing "more structural room" for gold ETFs and central banks to continue buying. Goldman Sachs analysts still expect gold prices to reach $3,700 per ounce by the end of 2025, rise to $4,000 by mid-2026, and reiterated their investment recommendation to "long gold in the long term."