Gold Demand Surge: Central Banks Buy 79 Tonnes in August
Goldman Sachs estimates central banks bought 79 tonnes of gold in August — more than 4x the pre-2022 average of 17 tonnes — with China the single largest buyer at 25 tonnes. Goldman sees structural CB demand as ongoing support for gold.
What we know
Goldman Sachs published data showing central bank gold purchases hit 79 tonnes in August, far above the pre-2022 average of 17 tonnes — an account on X. China was the largest identifiable buyer at 25 tonnes — another account on X. Goldman reiterated its view that structural central bank demand remains a floor for gold — another account on X. Stock traders tied this to a broader BRICS narrative — another account on X — asking 'what do the CBs know' amid geopolitical uncertainty.
How the story developed
Goldman Sachs estimates central banks bought 79 tonnes of gold in August — more than 4x the pre-2022 average of 17 tonnes — with China the single largest buyer at 25 tonnes. Goldman sees structural CB demand as ongoing support for gold.
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By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.