Goldman Sachs published a report stating that despite trade tariffs and geopolitical issues pushing the US dollar stronger, Gold prices are expected to reach new highs next year, as central banks, including China, may increase their Shareholding in Gold.

The report mentions that if major buyers like the People's Bank hold substantial US dollar reserves and have a strategic interest in diversifying their reserves, there is a possibility of increasing Gold demand during periods of weak RMB exchange rates to enhance confidence in the yuan. Systematic purchases of Gold by China in the London over-the-counter market have been observed during periods of yuan weakness from 2014 to 2016, 2018 to 2020, and from 2022 to present.