Gold's rally sidelined one of its biggest buyers — but they're eyeing a comeback

Bogdan Hofbauer

Gold's historic rally sidelined one of its biggest buyers — but they're eyeing a comeback, according to Goldman Sachs. The precious metal has been on a red-hot run over the past year, hitting a record high above $5,500 per ounce late last month before a sharp correction. While gold's rise has been buoyed by central bank buying in recent years, sharp price swings have temporarily slowed that demand. "Our conversations suggest that reserve managers remain willing buyers of gold to hedge