According to CoinMeta, Morgan Stanley expects the gold price to break through $5,000 in 2027 or earlier, provided that the price exceeds $4,450 per ounce. The firm notes that improvements in the macroeconomic environment are boosting demand for gold, expectations of interest rate hikes by the Federal Reserve are gradually fading, and the US dollar is weakening. Strong buying by central banks and physical demand are also supporting the gold price. Despite high long-term yields, the gold price remains firm, reflecting increasing concerns among investors about fiscal risks, including high government debt and potential currency devaluation risks. Morgan Stanley expects the Federal Reserve to keep interest rates unchanged until 2026, but warns that upcoming US inflation data and speeches by Fed officials could exacerbate market volatility.