Morgan Stanley expects gold prices to rise to $5700

Morgan Stanley predicts that gold prices may rise to $5700 per ounce in the second half of the year, driven by geopolitical uncertainty, continued central bank purchases, and strong ETF demand. The report points out that central banks in various countries, including Poland, continue to increase their gold reserves even when gold prices are high. If the Federal Reserve initiates interest rate cuts in 2026, the demand for physical gold may further increase.