<div id="readability-page-1"><div>G Sachs stated that it expects central banks worldwide to step up gold purchases to support a rebound in gold prices before year-end. Since the outbreak of war in the Middle East, rising energy costs have intensified global inflationary pressures, reducing the likelihood of monetary easing by central banks and weighing on gold prices. Spot gold continued to hover at low levels today (18th), last reported at USD4,540.73 per ounce. Gold futures for June delivery fell 0.4% to USD4,543.6 per ounce.G Sachs expects central bank purchases this year to increase to an average of 60 tonnes per month. According to an internal survey, central banks show strong underlying interest in gold, and recent geopolitical developments may reinforce investment diversification. However, G Sachs remains cautious on the short-term outlook for gold prices, noting that if equities face a sell-off and private investors encounter liquidity needs, gold would serve as a &#34;natural source of funds.&#34;Hong Kong-listed gold mining stocks tracked the broader market lower today. ZIJIN MINING (02899.HK) -1.160 (-3.299%) Short selling $213.35M; Ratio 21.755% was last reported at HKD33.92, down 3.53%. ZHAOJIN MINING (01818.HK) -1.100 (-4.580%) Short selling $31.14M; Ratio 7.210% stood at HKD22.88, down 4.75%. SD GOLD (01787.HK) -1.080 (-3.982%) Short selling $29.14M; Ratio 9.274% was at HKD26.06, down 3.91%. LINGBAO GOLD (03330.HK) -1.170 (-5.900%) Short selling $8.79M; Ratio 3.909% was at HKD18.7, down 5.7%. CHINAGOLDINTL (02099.HK) -4.200 (-2.596%) Short selling $20.12M; Ratio 10.145% was at HKD157, down 2.97%. (mn/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-18 12:25.)</div></div>

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G Sachs anticipates increased central bank gold purchases, potentially boosting gold prices before year-end. Rising energy costs and global inflation are currently pressuring gold prices, with spot gold at USD4,540.73 per ounce. The firm expects central banks to buy an average of 60 tonnes monthly, driven by geopolitical factors. However, G Sachs remains cautious about short-term gold price outlook, noting that gold may serve as a liquidity source amid equity sell-offs. Hong Kong-listed gold mining stocks fell, tracking the broader market decline.

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G Sachs: Central Bank Buying Power Expected to Lift Gold Prices Before Year-End