Gold will hit $4,500/oz by mid-2026 on ETF, central bank demand and real-asset hedging – Morgan Stan

[libertybele]

Gold will hit $4,500/oz by mid-2026 on ETF, central bank demand and real-asset hedging – Morgan Stanley

Rising ETF demand, steady central-bank buying, and the growing need to hedge with real assets will push gold prices to $4,500 per ounce by mid-2026, according to commodity strategists at Morgan Stanley.

The investment bank noted that after four years of net selling, ETF flows have “nearly fully reversed,” with this year’s inflows the strongest since 2020, and they expect this trend to continue as interest rates fall.

The analysts said that central banks “are still adding gold to their reserves,” while jewelry demand is stabilizing, supporting broad-based physical demand. They added that a pullback would create buying opportunities, and that investors are reassessing gold’s role as a hedge amid inflation uncertainty and shifting macro risk.

Morgan Stanley said gold is its top commodity pick for the coming year.

On Oct.22, just one day after gold posted its largest daily loss in 12 years, Morgan Stanley said they still expect the gold rally to continue, and they revised their 2026 price forecast up to $4,400 per ounce, a significant increase from the previous estimate of $3,313.

“Investors are watching gold not just as a hedge against inflation, but as a barometer for everything from central bank policy to geopolitical risk,” said Morgan Stanley Metals & Mining Commodity Strategist Amy Gower. “We see further upside in gold, driven by a falling U.S. dollar, strong ETF buying, continued central bank purchases and a backdrop of uncertainty supporting demand for this safe-haven asset.”................

https://www.kitco.com/news/article/2025-11-27/gold-will-hit-4500oz-mid-2026-etf-central-bank-demand-and-real-asset

[Idiot]

Gold will hit $4,500/oz by mid-2026 on ETF, central bank demand and real-asset hedging – Morgan Stanley

Rising ETF demand, steady central-bank buying, and the growing need to hedge with real assets will push gold prices to $4,500 per ounce by mid-2026, according to commodity strategists at Morgan Stanley.

The investment bank noted that after four years of net selling, ETF flows have “nearly fully reversed,” with this year’s inflows the strongest since 2020, and they expect this trend to continue as interest rates fall.

The analysts said that central banks “are still adding gold to their reserves,” while jewelry demand is stabilizing, supporting broad-based physical demand. They added that a pullback would create buying opportunities, and that investors are reassessing gold’s role as a hedge amid inflation uncertainty and shifting macro risk.

Morgan Stanley said gold is its top commodity pick for the coming year.

On Oct.22, just one day after gold posted its largest daily loss in 12 years, Morgan Stanley said they still expect the gold rally to continue, and they revised their 2026 price forecast up to $4,400 per ounce, a significant increase from the previous estimate of $3,313.

“Investors are watching gold not just as a hedge against inflation, but as a barometer for everything from central bank policy to geopolitical risk,” said Morgan Stanley Metals & Mining Commodity Strategist Amy Gower. “We see further upside in gold, driven by a falling U.S. dollar, strong ETF buying, continued central bank purchases and a backdrop of uncertainty supporting demand for this safe-haven asset.”................

https://www.kitco.com/news/article/2025-11-27/gold-will-hit-4500oz-mid-2026-etf-central-bank-demand-and-real-asset

Look at the price of silver...sheesh. It ran up to $56 on Friday and appears to still be running.  Usually this is a VERY bad sign for the economy.