Gold could rise above $5,000 an ounce in 2027 or earlier after breaking through $4,450, Morgan Stanley said in a report cited by Jin10 and published by PANews on Aug. 20. The bank said improving macroeconomic conditions are boosting demand for gold ETFs as expectations for Federal Reserve rate hikes fade and the dollar weakens. Strong central-bank purchases and firmer physical demand are also supporting prices. Gold’s resilience despite high long-term yields points to growing investor concern over fiscal risks, including heavy government debt and the potential for currency depreciation. Morgan Stanley expects the Federal Reserve to keep interest rates unchanged before 2026, while warning that upcoming U.S. inflation data and comments from Fed officials could increase market volatility.