Brazil, China add 12 tonnes of gold in Nov 2025; Morgan Stanley sees $4,800 by 2026
Brazil and China collectively bought 12 tonnes of gold in November 2025, worth about $1.88 billion, according to the World Gold Council. Reuters reports Morgan Stanley expects the metal to reach $4,800 per ounce by 2026, while spot gold was $4,442, nearly 3% below its December 2025 high near $4,560.