China’s Secret Gold Play Fuels Goldman’s $4,900 Target

Wall Street giant Goldman Sachs is sharpening its gold‑price target to $4,900/oz amid signs of a surging wave of central‑bank bullion buying — and much of that firepower appears to be coming from China. According to Goldman, official data show that global central banks bought around 64 tons of gold in September alone, up significantly from the 21 tons registered in August. What’s unusual? Despite meager monthly disclosures from China — for example, just 1.9 tons reported for August and July, and 2.2 tons for June by China’s authorities — independent estimates suggest China may purchase up to 250 tons this year when inferred from trade flows, potentially representing over one‑third of global central‑bank demand. Analysts note this heavy buying is obscured because only about one‑third of global central‑bank gold purchases are reported to the International Monetary Fund, down sharply from around 90 % a few years ago — creating a very opaque backdrop in the market. Why does this matter? With global bullion supply tightening and central‑bank demand ramping quietly, Goldman believes the metal is on track for an extended upside. Combined with geopolitical and financial‑risk hedging strategies among policymakers, this dynamic underpins the $4,900 target. #GoldMarket #ChinaGoldStrategy #CentralBankBuying #GoldmanSachsTarget #SlimScan #GrowthStocks #CANSLIM