🥇 Gold Buying Could Be Significantly Underreported
Central banks worldwide purchased an estimated +44 tonnes of gold in July — a 158% surge compared to the pre-2022 average of +17 tonnes, according to Goldman Sachs.
The 3-month average now stands at +91 tonnes, nearing its highest level since mid-2025. Meanwhile, the 12-month moving average has remained steady between +50 and +60 tonnes in recent months.
Official reports, however, recorded only +23 tonnes bought in July — 21 tonnes short of the actual figure. In fact, official monthly data hasn’t exceeded +60 tonnes since November 2024, indicating that real central bank demand for gold may be much stronger than what’s publicly disclosed.
✅@futures
Lammii Motivation
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2September 29, 2026 2K
