Gold price is now soaring to new highs, as central banks around the world continue to explore the asset in its entirety. With the US dollar showing a wobbly stance in 2025, precious metals like gold and silver continue to dominate global markets, with the allure of gold captivating central banks around the world. These banks have now hoarded a record 9500 (unofficial) tonnes of gold, showing no plans of stopping any time soon.

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Central Banks’ Gold Rush

According to the Kobeissi Letter, central banks are still banking heavily on gold. The recent KL post outlines how gold is still a favorite collective asset to hold, as central banks continue to explore the asset aggressively. The posts shared how gold’s unofficial purchases have now hit 9500 tonnes, up 64% from any other reported purchases updated by banks.

“The rush for gold by central banks is unprecedented. Unofficial gold purchases by global central banks are up to ~9,500 tonnes since 2010. This is ~3,700 tonnes, or +64%, more than officially reported purchases by these entities.”

Additionally, the bank’s unofficial gold purchase accelerated in 2022, with these financial entities accumulating nearly 3500 tonnes of gold.

“Unofficial buying accelerated in 2022, and since then, central banks have accumulated ~3,500 tonnes of gold, or 37% of total purchases since 2010.”

China Leads the Way

The new KL post further shared how China is leading this gold rush, accumulating nearly 118 tonnes of gold in Q3, 2025 alone.

“China alone bought 118 tonnes of gold in Q3 2025, marking a +55% YoY increase. Money Metals estimates China’s gold reserves jumped to a record 5,411 tonnes last quarter, far above the 2,304 tonnes officially reported by its central bank. Central banks are still stocking up on gold.”

Gold’s Future Forecast

According to Rashad Hajiyev, a noteworthy financial expert, gold price is now aiming for a new $5K mark, with its chart showing patterns that may help it hit $5K in due time.

“Gold has had a spectacular rally since October 2023, gaining 140%. Previous consolidations following each rally lasted at least 3 months. Present consolidation so far is 2 months long. Upon every breakout, the minimum leg up was 13%, and the maximum was 27%. Upon breakout higher, a minimum 13% rally should take gold to $5k…”

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