Morgan Stanley predicts that gold prices will soar to $2,600 per ounce by the fourth quarter of 2024, driven by central bank purchases, increased retail demand, and global geopolitical turmoil. Despite a 50% rise from 2022 lows and a 25% increase since mid-February, gold’s appeal as a safe-haven asset continues to grow. Factors such as central banks from developing nations increasing their reserves, robust retail and institutional investment, and ongoing global conflicts are expected to propel gold prices higher. Additionally, economic uncertainties and potential US rate cuts further support this bullish outlook.