Morgan Stanley Sees Gold Prices Soaring to $5,000 in 2027

Gold prices have been on an upward trend in 2026, despite some fluctuations. As of now, spot gold is holding around $4,700 an ounce after gaining over 17% in August alone, making it the metal's best month so far this year, apart from January's 13% jump.

The growth can be attributed to softer U.S. economic data, fading expectations for another Federal Reserve rate hike, a weaker dollar, and renewed demand from investors and central banks.

Morgan Stanley believes there could be more room to run, predicting that gold will break above $5,000 an ounce in 2027, although the journey is expected to be bumpy.