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<Research>M Stanley: Gold Price Has Not Peaked; Bull Case Could See USD5,700 in 2H
Recommend 23 Positive 42 Negative 13 |
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Morgan Stanley's report stated that the gold price topped its forecast of USD4,750 per ounce for 2H, yet having not peaked, given geopolitical risks, positive signals from central banks, and ETF buying. The broker specifically highlighted a target price under bull case: USD5,700 per ounce in 2H. Silver price showed strong momentum, with physical premiums in Shanghai highlighting tightness. Morgan Stanley stated that the bull case for gold is brooding, with a deteriorating USD Index (DXY), robust physical demand, and elevated geopolitical risks. The broker considered the gold rally is not over. They emphasized a bull target for 2H at USD5,700 per ounce, implying a 14% upside from current levels. Silver is trading at an all-time high of USD100 per ounce, with its precious metal attributes dominating the trend. After years of supply shortages, strong ETF demand is absorbing limited inventory. The Shanghai silver price showed an immense premium over the CME, reflecting ongoing tight physical supply. Although solar demand may have peaked, potentially weakening silver prices in 2H, other drivers are dominating for now. AASTOCKS Financial News Website: www.aastocks.com |
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