Morgan Stanley Lifts Gold Forecast To $4,800, Citing Fed Cuts And Global Ris

Morgan Stanley Lifts Gold Forecast To $4,800, Citing Fed Cuts And Global Risk -ZeroHedge

Authored by Tom Ozimek via The Epoch Times

Gold prices are poised to climb to fresh record highs by the end of the year, with Morgan Stanley forecasting the bullion at $4,800 per ounce by the fourth quarter of 2026, as falling interest rates, central bank buying, and persistent geopolitical risk continue to drive demand for the traditional safe-haven asset.

In a research note on Jan. 5, the bank said the precious metal's rally is being underpinned by a combination of macroeconomic and policy shifts, including an expected easing cycle by the U.S. Federal Reserve, a change in leadership at the Federal Reserve, and sustained purchases by central banks and investment funds.

Bullion has already delivered a historic run. Spot gold touched an all-time high of $4,549.71 per ounce on Dec. 26, 2025, and finished the year up 64 percent, marking its strongest annual performance since 1979.

Gold prices jumped again this week after the capture of Venezuelan leader Nicolas Maduro by U.S. military forces heightened geopolitical uncertainty across energy and financial markets. Analysts say such flashpoints have revived safe-haven buying at a time when many investors were already positioned defensively.

"The situation around Venezuela has clearly reactivated safe-haven demand, but it comes on top of existing concerns about geopolitics, energy supply, and monetary policy," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.