Central Bank Gold Purchases: Goldman Sachs anticipates a significant increase in central bank gold purchases in November, driven by geopolitical and financial risk hedging, with estimates showing a rise from 21 tons in August to 64 tons in September.
China's Gold Accumulation: Despite official reports indicating minimal gold purchases, analysts believe China may be accumulating as much as 250 tons this year, accounting for over one-third of global central bank demand, with a strategy of minimal disclosure.
Market Dynamics: The reluctance of central banks to report gold purchases is linked to avoiding market front-running and reflects the current illiquid state of the physical gold market, with delivery timelines extending up to eight weeks.
Price Outlook: Goldman Sachs projects that sustained central bank buying and tight supply could drive gold prices towards a target of $4,900 by 2026, with the SPDR Gold Trust ETF showing a year-to-date increase of 51.43%.
Wall Street analysts forecast GLDM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GLDM is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast GLDM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GLDM is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 95.540
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Current: 95.540
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
