Gold Soars Past $4,000 as Jobs Data Sparks Fed Rate Cut Frenzy
Gold just punched through $4,000 like a hot knife through butter—and Wall Street's sweating bullets.
Weak jobs numbers have traders betting the farm on Fed dovishness. Suddenly, everyone's scrambling for shiny metal insurance.
Funny how 'safe haven' rallies always seem to happen when the economic data turns ugly. Almost like the system's built on quicksand—but hey, keep buying those inflation hedges.
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Lower interest rates benefit the precious metal since it doesn’t yield interest, making gold’s investment rationale more attractive compared to interest-bearing assets.
Morgan Stanley Sets 2026 Gold Price Target of $4,400
Morgan Stanley has a 2026 Gold price target of $4,400, although the bank believes that it could rise to $4,500 by the middle of the year on strong ETF demand and continued purchases from central banks.
“Recent price action took gold well into ‘overbought’ territory on an RSI (Relative Strength Index) basis, but the recent correction has taken it to a healthier level, likely cleaning up positioning,” said Morgan Stanley.
