Morgan Stanley predicts that the upward trend of gold prices will slow down, reaching $4800 in the fourth quarter of next year.

Morgan Stanley predicts that as central banks and Exchange-Traded Funds (ETFs) reduce their purchases, the upward trend in gold prices will slow down next year. However, the expectations of interest rate cuts and a weakening US dollar will maintain the momentum of gold prices. Gold prices are expected to reach $4800 per ounce in the fourth quarter of next year, with favorable factors including Chinese retail demand, central bank buying, and concerns about global economic growth. Morgan Stanley also states that this year will be a peak period of silver scarcity, and silver prices are expected to lag behind gold next year. However, investment demand is likely to continue to be a major force driving prices higher. Platinum prices are expected to reach $1775 per ounce next year, while palladium prices are expected to reach $1325 per ounce.