Woofun AI notes that Goldman Sachs anticipates central bank purchases will sustain gold prices despite market concerns over a hawkish Federal Reserve. The bank estimates central banks acquired 81 metric tons of gold in May, with a three-month average of 67 metric tons, significantly higher than the pre-2022 average of 17 metric tons.

Analysts stated that the trend of increasing gold holdings will persist for years as central banks hedge against geopolitical and financial risks through reserve diversification. The bank projects average monthly purchases of 50 metric tons this year and 40 metric tons next year.