Gold’s Quiet Rally Driven by Sovereign Demand | Raleigh News

Raleigh News Today | 2 Min News | The Daily News Now! · Jul 2, 2026 · 1m

Gold’s recent dip may be over — despite fading rate-cut hopes and a strong dollar, weaker jobs data and Fed signals of easing inflation gave gold a boost. Goldman Sachs remains bullish, pointing to a deeper, untapped demand: sovereign buying. Central banks, especially in emerging markets, are aggressively diversifying reserves, with record numbers planning to increase gold holdings — a trend Goldman Sachs just revised upward after uncovering untracked purchases. To hit their $4,900/oz target by 2026, gold needs more than just central banks — it needs cooling inflation, softer jobs data, and a…