Morgan Stanley: Gold price is expected to rise to $8000 to $8500 in the coming years.

JPMorgan global market strategist Nikolaos Panigirtzoglou's latest report predicts that the price of gold is expected to rise to $8,000 to $8,500 in the coming years. One of the reasons for this is that retail investors are increasingly relying on gold rather than fixed income products to hedge against the risk of a stock market downturn. However, Panigirtzoglou warns that commodity trading advisors and momentum traders are currently extremely overbought in their positions in silver and gold, which means there is a risk of profit taking or mean reversion in the short term for gold and silver.