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Morgan Stanley Cuts Gold Price Projection for 2026 by 8.7%

Akbar Ridwan 24/04/2026 19:10 WIB

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The global investment bank, Morgan Stanley, is reported to have slashed its gold price forecast by 8.77% for the second half of 2026.

Morgan Stanley's Gold Price Projections Before and After the Revision (2026)

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Morgan Stanley's Gold Price Projections Before and After the Revision (2026)

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Global investment bank, Morgan Stanley, reportedly cut its gold price forecast by 8.77% for the second half of 2026.

Previously, the US-based bank targeted a gold price of $5,700 per ounce. However, it has now revised it to $5,200 per ounce.

According to The Economic Times, this move follows a massive six-week sell-off, during which gold prices plummeted nearly 8%.

Morgan Stanley said the sell-off was triggered by a rare supply shock. Additionally, rising real yields and the Fed's delay in cutting interest rates have transformed the macroeconomic landscape.

Morgan Stanley's latest forecast, writes The Economic Times, shows that the future of gold in 2026 will depend more on liquidity conditions, bond yields, and monetary policy timing.

The cut in gold price predictions was also due to supply shocks. Energy disruptions in the Middle East pushed oil prices higher, raising inflation expectations in global markets.

"When inflation expectations rise along with economic resilience, real yields move up," writes Piyush Shukla in The Economic Times.

According to The Economic Times, higher real yields make bonds more attractive. Gold, which doesn't pay interest, becomes less appealing.

Morgan Stanley assesses that this shift restores the classic inverse relationship between gold and real yields. During the 2025 rally, this relationship weakened, but it is now having an impact again.

The cut in gold price forecasts was also driven by the actions of several developing country central banks, which sold off their gold reserves. This action is seen as putting additional pressure on prices.

"Morgan Stanley also noted that ETF (Exchange-Traded Fund) outflows have turned negative. Investors who had previously bought aggressively are rapidly exiting their positions, accelerating the price decline," writes Shukla.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Morgan Stanley Cuts Gold Price Projection for 2026 by 8.7%

Morgan Stanley Cuts Gold Price Projection for 2026 by 8.7%

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Morgan Stanley Cuts Gold Price Projection for 2026 by 8.7%

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