Central Banks Buy 27 Tonnes of Gold, Boosting Alamos Gold Appeal
Central banks added a net 27 tonnes of gold in February 2026 while global mine output rose just 1%, intensifying a looming supply constraint. Analysts now project 2026 gold prices between $4,700 and $5,200 per ounce, with Goldman Sachs raising its year-end forecast to $5,400, boosting appeal of reserve players like Alamos Gold.
1. Intensified Gold Supply Constraint
Central banks quietly purchased 27 tonnes of physical gold in February 2026, while global mine output increased by just 1%, creating a looming supply wall. Major analysts have raised 2026 gold price targets to $4,700–$5,200 per ounce, with a year-end forecast of $5,400, reflecting surging ETF inflows and high-net-worth demand.
2. Institutional Flows to Alamos Gold
This tightening market environment is redirecting institutional capital toward scalable reserve replacement operators such as Alamos Gold. Inclusion in this cohort positions Alamos to benefit from both higher gold prices and increased merger and acquisition activity, as funds chase companies with proven development pipelines.