Odaily Planet Daily reports: This week, the World Gold Council released its February central bank gold purchasing report, showing that central banks globally net purchased 19 metric tons of gold in February 2026. Although this remains below the monthly average of 26 tons reported for 2025, it marks an increase from the net purchase of 5 tons in January 2026. The World Gold Council noted that February’s data suggests a rebound in central bank gold buying following a quiet January, underscoring central banks’ continued recognition and commitment to gold as a reserve asset. Additionally, the report indicates that several central banks have maintained a streak of consistent net gold purchases, accumulating 44 tons between November 2024 and February 2026. The Czech Republic reported its 36th consecutive month of net gold purchases, while China continued its gold accumulation for the 16th consecutive month.
A Goldman Sachs report at the end of March indicated that gold’s medium-term outlook remains strong, supported by continued central bank buying and expectations that the Federal Reserve will cut rates twice this year, with gold prices potentially rising to $5,400 per ounce by year-end. UBS, also at the end of March, projected a target price for gold of $5,900 per ounce by early 2027. (Financial Magazine)