Gold broke a new record high surpassing $4,000 per oz
Morgan Stanley Research forecasts 2026 gold up to $4,400 per oz Despite this week’s stumble, gold prices could extend gains as central banks and ETFs buy in, anticipating Fed rate cuts and a weaker dollar. Morgan Stanley enlists four takeaways; 1: Gold prices, which are up nearly 50% in 2025, are likely to add more gains by the end of 2026. 2: Gold surpassed the share of U.S. Treasuries in central bank reserves for the first time since 1996, while ETFs backed by gold keep posting record inflows. 3: Higher prices could dampen demand for gold, with jewelry consumption already showing signs of weakness. 4: A super-cycle of capital investments by gold producers is unlikely, due to permitting and regulatory hurdles. Gold broke a new record high on October 10, surpassing $4,000 per ounce for the first time, and continued to climb since then. On October 21, the rally hit a wall, with a drop of as much as 6%, the biggest daily loss in 12 years. Still, gold has surged...