---
title: "Goldman lifts central bank gold buying estimates, keeps $5,400 target"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287106969.md"
description: "Goldman Sachs has increased its central bank gold buying estimates by over 70% due to previously unaccounted gold exports from London. Despite a recent 3.7% drop in gold prices, the firm maintains a bullish year-end target of $5,400, driven by strong sovereign demand and reserve diversification. However, macroeconomic challenges such as high yields and a strong dollar may limit short-term gains."
datetime: "2026-05-20T18:53:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287106969.md)
  - [en](https://longbridge.com/en/news/287106969.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287106969.md)
---

# Goldman lifts central bank gold buying estimates, keeps $5,400 target

Data gap uncovered: Goldman revised its central bank gold buying estimates up over 70% after finding UK trade data missed gold exports from London vaults. Bullish target intact: Despite gold's recent 3.7% drop, Goldman maintains a $5,400 year-end target, citing persistent sovereign demand and reserve diversification. Macro headwinds remain: High yields, a strong dollar, and oil-driven inflation pressures could limit near-term upside, but structural buying may offset these challenges.

### Related Stocks

- [GS.US](https://longbridge.com/en/quote/GS.US.md)
- [GS-C.US](https://longbridge.com/en/quote/GS-C.US.md)
- [GS-A.US](https://longbridge.com/en/quote/GS-A.US.md)
- [GS-D.US](https://longbridge.com/en/quote/GS-D.US.md)
- [600547.CN](https://longbridge.com/en/quote/600547.CN.md)
- [AEM.US](https://longbridge.com/en/quote/AEM.US.md)
- [KGC.US](https://longbridge.com/en/quote/KGC.US.md)
- [GOLD.US](https://longbridge.com/en/quote/GOLD.US.md)
- [NEM.US](https://longbridge.com/en/quote/NEM.US.md)
- [601899.CN](https://longbridge.com/en/quote/601899.CN.md)
- [600489.CN](https://longbridge.com/en/quote/600489.CN.md)
- [GOEX.US](https://longbridge.com/en/quote/GOEX.US.md)
- [GDXW.US](https://longbridge.com/en/quote/GDXW.US.md)
- [RING.US](https://longbridge.com/en/quote/RING.US.md)
- [09824.HK](https://longbridge.com/en/quote/09824.HK.md)
- [GDXU.US](https://longbridge.com/en/quote/GDXU.US.md)
- [GDX.US](https://longbridge.com/en/quote/GDX.US.md)
- [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md)
- [GOAU.US](https://longbridge.com/en/quote/GOAU.US.md)
- [UGL.US](https://longbridge.com/en/quote/UGL.US.md)
- [82824.HK](https://longbridge.com/en/quote/82824.HK.md)
- [SGDJ.US](https://longbridge.com/en/quote/SGDJ.US.md)
- [NUGT.US](https://longbridge.com/en/quote/NUGT.US.md)
- [GLD.US](https://longbridge.com/en/quote/GLD.US.md)
- [SGDM.US](https://longbridge.com/en/quote/SGDM.US.md)
- [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md)
- [JNUG.US](https://longbridge.com/en/quote/JNUG.US.md)
- [GDXY.US](https://longbridge.com/en/quote/GDXY.US.md)
- [518850.CN](https://longbridge.com/en/quote/518850.CN.md)
- [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md)
- [IAU.US](https://longbridge.com/en/quote/IAU.US.md)
- [02824.HK](https://longbridge.com/en/quote/02824.HK.md)
- [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md)

## Related News & Research

- [$1000 Invested In SPDR Gold MiniShares Trust 5 Years Ago Would Be Worth This Much Today](https://longbridge.com/en/news/286819467.md)
- [Bitget launches 'Gold Fast or Go Home Challenge' for Gold CFD Trading](https://longbridge.com/en/news/287052667.md)
- [PRECIOUS-Gold drops 2% as rising yields, dollar, sap appeal; inflation woes linger](https://longbridge.com/en/news/286545868.md)
- [PRECIOUS-Gold edges higher from over 1-1/2-month low but higher yields cap gains](https://longbridge.com/en/news/286745980.md)
- [Agnico Eagle Greenlights $2.4 Billion Hope Bay Mine With 400,000-Ounce Annual Gold Output Target](https://longbridge.com/en/news/286959549.md)