Morgan Stanley Names 3 Supports for Gold After a 3.8% Slide This Year
Morgan Stanley still favors gold on a 12-month view, even after the metal slid toward a seven-week low this week. Amy Gower, its head of metals and mining strategy, named 3 factors that could support prices. Spot gold held near $4,176 on Thursday after a sharp sell-off on Monday. The metal is now down about 3.8% in 2026. Gold Prices in 2026. Source: TradingView Sponsored Sponsored Central Banks and China Keep the Physical Bid Alive Gower, head of metals and mining strategy at Morgan Stanley, started with physical demand. Central banks added a net 23 metric tons in July, according to World Gold Council (WGC) data. China added 20 tons that month, and Poland added 8 tons. Beijing then bought about 20.2 tons in August, its largest monthly addition since October 2023. Chinese demand also extends beyond the central bank. Chinas total imports, which include private and institutional buyers, passed 1,000 metric tons in the first eight months of 2026. Gower told CNBC that the pace puts them on track for their highest level since 2017. “China seems to have this very strong appetite for gold,” she said. Sponsored Sponsored Follow us on X to get the latest news as it happens Are gold prices heading to $5,000+? Global gold ETF holdings are up








