- Central banks in India, Poland, China, and Turkey reduced dollar reserve exposure, while Gold tracked Goldman Sachs targets and Bitcoin correlated with Nasdaq.
- Goldman Sachs tracks accumulation in OTC markets, predicting a gold-backed Renminbi could bypass the U.S. dollar system.
Goldman Sachs Estimates Chinese Gold Buying in London OTC Market
What happened
Goldman Sachs conducted transactions in the Over-The-Counter bullion market in London on October 1, 2026. The firm estimated Chinese gold buying between May and August, totaling 148 metric tons. This figure was 83 metric tons higher than the additions reported by the People’s Bank of China.
From econotimes.com
Why it matters
Goldman Sachs' estimate of buying activity relies on trading in London's OTC bullion market, while the People’s Bank of China's figures report the net change in official reserves. The difference in measurement methods means the two readings do not identify a separate purchase beyond the official reserve increase.
Central banks in India, Poland, China, and Turkey have reduced dollar reserve exposure, while Goldman Sachs tracks accumulation in OTC markets, predicting a gold-backed Renminbi could bypass the U.S. dollar system.
From econotimes.com
Who's involved
- Goldman SachsAmerican investment bank that used the OTC bullion market for transactions and provided gold accumulation estimates
- LondonLocation where Goldman Sachs utilized the Over-The-Counter bullion market
Keep exploring
The entities involved
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Goldman Sachs
American investment bank
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London
capital and largest city of England and the United Kingdom
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