Core Viewpoint - Morgan Stanley reports that gold prices have surpassed their forecast of $4,750 per ounce for the second half of the year, but they believe prices have not peaked yet, supported by geopolitical risks, positive signals from central banks, and ETF buying [1] Group 1: Gold Market Insights - The bullish scenario target price for gold is set at $5,700 per ounce for the second half of the year, indicating a potential upside of 14% from current levels [1] - The Polish central bank is shifting to a target based on absolute tonnage for gold reserves rather than a percentage of total reserves, indicating reduced sensitivity to price changes [1] - The expectation of interest rate cuts by the Federal Reserve this year is likely to continue supporting ETF buying in precious metals [1] Group 2: Silver Market Insights - Silver prices are showing strong momentum, with spot prices in Shanghai reflecting a significant premium, indicating supply tightness [1] - Silver is trading at historical highs of $100 per ounce, driven by its precious metal attributes [1] - Despite potential peak solar demand possibly leading to weaker silver prices in the second half, other driving factors currently dominate the market [1]
大摩：金价未见顶 下半年牛市情境可见5,700美元
智通财经网·2026-01-26 08:27