October 8, 2026
Morgan Stanley expects gold prices to exceed $5,000 per ounce in 2027, in clear defiance of the continued tightening of US monetary policy and rising interest rates.
In this context, the financial institution raised its expectations for the average price of the yellow metal during the year 2027 by 2% to reach $5,050 per ounce, exceeding the average market expectations of $4,631, with the average price recording $4,688 in 2028.
In terms of quarterly performance for the year 2027, the bank’s estimates indicate that the average price of an ounce will reach $4,850 in the first quarter, rising to $5,000 in the second quarter, then to $5,100 in the third quarter, concluding the year at $5,250 in the last quarter.
This optimistic view comes despite the US Federal Reserve’s resort to raising interest rates by 25 basis points in September, coinciding with expectations of Morgan Stanley economists to approve two final increases in December and March, followed by stabilizing interest rates throughout the remainder of 2027.
This positive trend of the bank is based on gold’s ability to withstand economic pressures and the continued strength of demand, exceeding the usual negative effects of high interest rates on precious metals.
