Morgan Stanley: Gold Price May Soar to New High Amid US Concerns! Gold Price Forecast Upgraded to $3,500 per Ounce

Morgan Stanley August 4th | Morgan Stanley indicates that gold price may set a new high in the coming months. The firm has upgraded its near-term gold price forecast from previous levels of $3,300 per ounce to $3,500 per ounce. The firm expects gold prices to be traded between $3,300 and $3,600 per ounce over the next three months. The firm's previous forecast range was $3,100 to $3,500 per ounce. "Recent US cyclical growth and inflation outlook have worsened," Morgan Stanley said. "Higher-than-expected tariffs may lead to rising US inflation, a continued weak US labor market, and heightened concerns about the independence of the Federal Reserve/Fed data." Morgan Stanley emphasizes that all these factors imply an increasing likelihood of gold prices surging once again.