[Goldman Sachs Expects Central Bank Gold Purchases to Slightly Slow but Continue to Support Gold Prices] According to a report by Jinse Finance, on June 22, Goldman Sachs predicted that central banks would continue purchasing gold at a pace of 50 tons per month in 2026, slowing to 40 tons per month in 2027. Even though the monthly gold purchase rate may decline from its previous peak, this trend will still provide lasting structural support for gold prices. A record proportion of central banks have expressed intentions to increase their gold reserves, creating a demand backdrop that offers substantial cushioning against downside risks for gold prices. Goldman Sachs' forecast suggests that, despite potential fluctuations in monthly data, central bank demand will remain one of the most consistent structural support factors for gold prices over the next two years. Another survey conducted by the World Gold Council between February and May, involving 76 central banks, also supports this view. A record 45% of respondents indicated they expect to increase their gold reserves in the next 12 months, the highest level in the survey's history. Approximately 90% of respondents anticipate global central bank gold holdings to rise during the same period, while the remaining respondents expect holdings to remain roughly stable. None of the respondents predicted a decline.