Morgan Stanley: Gold Could Hit $5,000 as Demand Offsets Rate Pressure

The notable element is the framing, not the target: Morgan Stanley is treating demand as strong enough to override the rate channel that has historically been gold's main constraint. That matters for the wider hard-asset complex, since gold's bid is often read as a signal about the same macro anxieties that draw capital into tokenized gold and other RWA stores of value. The absence of a timeframe or revised figure leaves the call directional rather than actionable. Whether demand genuinely decouples from rates is the open question.