Morgan Stanley believes that after the gold price breaks through $4,450 per ounce, it is expected to surpass $5,000 in 2027 or sooner. The bank stated that improving macroeconomic conditions are boosting demand for gold ETFs, as expectations for further Federal Reserve rate hikes gradually fade and the US dollar weakens. Strong central bank purchases and even stronger physical demand further support gold prices. Despite persistently high long-term yields, gold prices remain resilient, indicatin

Morgan Stanley believes that after gold prices break through $4,450 per ounce, they are likely to surpass $5,000 in 2027 or earlier. The firm states that an improved macroeconomic environment is boosting demand for gold ETFs, as expectations for Federal Reserve rate hikes are gradually fading and the US dollar is weakening. Strong central bank buying and higher physical demand further support gold prices. Despite persistently high long-term yields, gold prices remain robust, indicating growing investor concerns about fiscal risks, including high government debt and potential currency devaluation. Morgan Stanley expects the Federal Reserve to keep interest rates unchanged until 2026, but also warns that upcoming US inflation data and Fed officials’ speeches may increase market volatility.