Morgan Stanley: Bullish on gold to $4,800; interest rate cuts and global risks will prolong the gold bull market.

 gold prices are expected to climb to new record highs by the end of this year. Morgan Stanley predicts that by the fourth quarter of 2026, gold prices will reach $4,800 per ounce, as falling interest rates, central bank gold purchases, and ongoing geopolitical risks will continue to drive demand for this traditional safe-haven asset.

Morgan Stanley stated in its report that recent events in Venezuela may strengthen gold's appeal as a store of value, although the bank did not use these developments as a formal basis for its $4,800 forecast.

JPMorgan recently also raised its gold price outlook, predicting that by the fourth quarter of 2026, gold prices will reach $5,000 per ounce, with a long-term target of $6,000.