Gold trades near $5,000 per ounce amid geopolitical tensions and rising bank purchases. Analysts on Jan. 27, 2026 warned that demand and a weaker dollar could push prices higher.
China reportedly increased holdings, with estimated monthly buys far above official numbers. “China continues to stockpile gold behind the scenes. China acquired +10 tonnes of gold in November, ~11 times more than officially reported by the central bank, according to Goldman Sachs estimates. Similarly, in September, estimated purchases reached +15 tonnes, or 10 times more than officially reported. Furthermore, China officially bought an additional 0.9 tonnes in December, pushing the total gold reserves to a record 2,306 tonnes. This also marked the 14th consecutive monthly purchase. In 2025, China’s total reported gold purchases reached +27 tonnes. Assuming official purchases were 10% of what China is actually buying, this suggests China acquired +270 tonnes of physical gold in 2025.” As posted by Kobeissi Letter on Twitter (Ed. note: Estimated purchases may far exceed official reports.).
According to CoinCodex, models forecast end-of-year gold prices at $12,187 for 2026 and $19,409 for 2030. “The price of gold is forecasted to hit $12,187 by the end of 2026 (+139.62% compared to current rates) and $19,409 by the end of 2030 (+281.61%). All values represent end-of-year price estimates according to our models. Last update: Jan 27, 2026 – 02:56 PM (GMT+5).”
