Gold Price Forecast 2026: Morgan Stanley Targets $4,500 per Ounce
Morgan Stanley Gold Price Forecast for 2026: Target of $4,500 per ounce by mid-next year
Morgan Stanley Gold Price Forecast for 2026: Target of $4,500 per ounce by mid-next year
This week the XAU/USD pair climbed to the area of 5419.00, corrected to the 5000.00 region (Murray level [8/8]), and has now resumed its upward movement, reaching the level of 5154.35.
During the Asian session, XAU/USD is recovering after yesterday’s decline and testing the 5160.00 level as investors prepare for the release of US macroeconomic data.
Prices for benchmark Brent Crude Oil remain in an upward trend just below the $80.0 per barrel mark, as the market faces a new major challenge after the US-Israeli coalition launched massive strikes on Iranian territory on February 28, reportedly killing Ayatollah Ali Khamenei and several senior military officials.
After the market opened this morning, the XAU/USD pair is holding slightly above this year’s key support level at 5,100.00 and is developing upward momentum, with the next target being a retest of the annual high at 5,594.00.
WTI Crude Oil prices are currently pulling back and trading around 71.65 after opening the session with a sharp upside gap, while maintaining a broader bullish bias following a technical correction.
WTI Crude Oil prices show mixed dynamics during the Asian session on February 25, holding near $66.0 per barrel and close to local highs since early August 2025. Market activity remains subdued as traders await new catalysts.
The XPT/USD pair has entered a key sideways range of 2186.07–2012.14 (50.0–61.5% Fibonacci retracement), where it has been trading for more than two weeks. Over the past three sessions, prices have attempted to resume upward momentum amid escalating tensions in the Middle East.
Shares of Nvidia Corp., the U.S. giant in graphics processor development, are trading at the 185.00 level.
During the Asian session, XAU/USD quotes show a modest decline, once again slipping below the psychological level of $5,050 per troy ounce amid fundamental shifts in the assessment of inflation dynamics and U.S. monetary policy.
The XPT/USD pair is trading above the 2000.00 level, maintaining a downward trajectory driven by weakening demand across the precious metals complex amid large-scale liquidation of leveraged positions. However, this move appears to be a local correction, after which renewed upside momentum may resume.
Brent Crude Oil prices have been rising steadily since the start of the year and reached a six-month high of 70.40 last week amid escalating geopolitical tensions.
The XAU/USD pair continues its steady advance within a long-term bullish trend, posting fresh all-time highs.
Commodities analysis looks at what drives the prices of raw materials like oil, gold, or wheat. Fundamentals mean supply and demand, production levels, weather, and geopolitics. Technicals come from the charts — trends, support and resistance zones, trading volume, and repeating patterns. By combining both, traders can gauge risk, spot opportunities, and decide when it makes sense to buy or sell.