Morgan Stanley: Gold Price Expected to Break $5,000 by 2027

August 20 news, according to Jin Shi, Morgan Stanley believes that after gold breaks through $4,450 per ounce, its price is expected to surpass $5,000 in 2027 or earlier. The bank stated that the improvement in the macroeconomic environment is boosting demand for gold ETFs, as market expectations for Federal Reserve rate hikes gradually fade and the dollar weakens. Strong central bank buying and firmer physical demand further support gold prices. Despite high long-term yields, gold prices remain resilient, also indicating investors' growing concerns about fiscal risks, including high government debt and potential currency depreciation risks. Morgan Stanley expects the Fed to maintain rates unchanged until 2026, but also warns that upcoming US inflation data and remarks by Fed officials could intensify market volatility.