Microsoft has moved to put to rest mounting speculation that it is pulling out of the console hardware business, confirming that the Xbox line remains very much alive.

The clarification followed a storm of reports over the weekend suggesting that major U.S. retailers, including Walmart and Target, were removing Xbox products from their stores — fueling fears that the company was quietly winding down its gaming console division.

The controversy began when posts surfaced on Reddit claiming that Target had started taking down its Xbox sections, with some users alleging that Walmart had not restocked the consoles in weeks. Soon after, a wave of social media chatter and online publications amplified the story, with some declaring that Microsoft was phasing out its Xbox Series X and S consoles altogether. The claims appeared plausible given a string of recent developments that had left gamers anxious about the brand’s future.

For months, Microsoft has faced accusations of deprioritizing its console business in favor of a “play anywhere” model focused on cloud streaming and cross-platform gaming. The company’s push into cloud-based gaming, powered by its Xbox Cloud Gaming service, allows users to play without owning a console — a model seen by many as the future of gaming. Microsoft’s support for handheld devices like the ASUS ROG Ally and the upcoming ROG Ally X only added to the perception that the company was shifting away from traditional living-room consoles toward portable and multi-device gaming.

The situation was compounded by deeper challenges facing Microsoft’s gaming division. Earlier this year, the company increased the price of its Xbox Series consoles twice — a move that dented sales and made the devices less attractive compared to Sony’s PlayStation 5. Several game studios under Microsoft’s ownership were also shut down amid cost-cutting and restructuring efforts, while the price of Xbox Game Pass, its flagship subscription service, rose by 50% for the top-tier plan. All of these developments fueled the belief that Microsoft was repositioning itself away from hardware and into software and services.

By the time the retail rumors emerged, many fans were ready to believe them. Reports circulated widely that Costco, too, had removed Xbox consoles from its inventory. The speculation snowballed, with headlines across gaming blogs declaring that Microsoft might be preparing to sunset its console business altogether.

However, evidence soon emerged to contradict those claims. YouTuber and gaming journalist Destin Legarie contacted several Target and Walmart locations to verify the reports. Employees from both chains reportedly confirmed that there were no internal memos or instructions to remove Xbox stock or clear inventory. One Target employee noted that while the store hadn’t received new shipments in about a week, more consoles were expected to arrive soon — albeit in small quantities.

Adding weight to the denials, Larry Hryb — better known as “Major Nelson,” a longtime public face of the Xbox brand who served 23 years as Director of Programming for Xbox Live — weighed in on social media. Hryb said he had personally visited several Target and GameStop outlets and found Xbox hardware and accessories still being sold. His comments helped steady fans’ nerves as confusion rippled through the gaming community.

Windows Central later conducted its own checks and confirmed that Xbox consoles were still listed and available at Target, although stock levels were low and availability appeared inconsistent. A Target employee told the outlet that the Xbox section was not being removed but acknowledged that console stock often fluctuates, particularly during transitional production periods or before restocks.

Microsoft itself then issued a statement to Windows Central, affirming that “Target and Walmart, among other retailers, remain committed partners for Xbox consoles, accessories, and games.” While the company stopped short of explicitly naming the Xbox Series X and S in its statement, the inclusion of the word “consoles” indicated that the hardware business remains part of its ongoing strategy.

Still, Microsoft’s vague wording left some observers parsing its every phrase. Some analysts suggested that the term “consoles” could refer not only to current-generation devices but also to the company’s expanding hardware ecosystem — including upcoming models and handhelds. That ambiguity reflects how Microsoft has subtly shifted its vision of what “Xbox” means in the modern gaming landscape.

Indeed, Microsoft is already planning future iterations of its hardware lineup. Reports suggest that the company is preparing a refreshed version of the Xbox Series X with a more compact design and possibly an all-digital variant. Executives are also said to be working on next-generation hardware slated for release around 2026, potentially featuring AI-driven optimization and hybrid streaming capabilities.

For now, Microsoft appears eager to reassure gamers that it is not abandoning the platform that helped define its gaming legacy. Despite sluggish sales and temporary retail confusion, Xbox consoles remain in production and on shelves — even if not in abundance.

Bank of America Global Research has raised its price forecasts for precious metals, projecting that gold could surge to an unprecedented $5,000 per ounce by 2026, supported by a sustained wave of investment demand and growing geopolitical and economic uncertainty.

The forecast, released on Monday, signals that the bank expects gold’s historic rally to continue, albeit with potential corrections along the way. The outlook also underlines the shifting global economic climate, where fears of trade tensions, inflation, and interest rate uncertainty have reignited gold’s long-standing appeal as a safe-haven asset.

Gold broke new ground on October 8, climbing above $4,000 per ounce for the first time in history. The metal extended its record-setting momentum this week, reaching a fresh high of $4,079.62 on Monday. Analysts say the rally was fueled by renewed tariff threats from U.S. President Donald Trump against China, alongside expectations that the Federal Reserve will cut interest rates in the coming months to cushion the American economy.

“Looking into 2026, a 14% increase of investment demand—similar to what we have seen this year—could lift gold to $5,000 per ounce,” the bank said.

The bank projects that gold will average around $4,400 in 2026, suggesting that while some price volatility is likely, the general trajectory will remain upward. However, it cautioned that a short-term correction could occur as traders consolidate profits from the historic surge.

The Drivers Behind Gold’s Record Rally

Gold’s dramatic rise has been underpinned by a confluence of macroeconomic and political forces. Chief among them is the renewed strain in U.S.-China relations after Trump threatened to reimpose tariffs on Chinese imports, rekindling fears of a global trade slowdown. The announcement rattled equity markets, prompting investors to shift their holdings toward more stable assets like gold.

Adding to that, expectations of an imminent rate cut by the U.S. Federal Reserve have bolstered gold’s outlook. Lower interest rates tend to weaken the dollar and reduce the opportunity cost of holding non-yielding assets like gold, making the metal more attractive to investors.

The Federal Reserve, which has already paused its tightening cycle, is widely expected to pivot toward rate reductions by early 2025 if inflation continues to moderate and labor market growth cools. Such a move could further weaken the dollar, adding momentum to gold’s rally.

The Safe-Haven Surge

Investors have been piling into gold-backed exchange-traded funds (ETFs) and physical bullion purchases throughout 2024 and into 2025, seeking stability amid persistent market volatility. According to the World Gold Council, global holdings in gold ETFs have reached their highest levels since the pandemic year of 2020. Central banks, particularly in emerging markets, have also been heavy buyers, diversifying their reserves away from the U.S. dollar amid fears of sanctions and currency volatility.

In addition, concerns over geopolitical risks—ranging from renewed Middle East tensions to uncertainty in Eastern Europe—have further boosted gold’s appeal. It is believed that this “fear factor” could continue to underpin demand well into 2026, particularly if global conflicts remain unresolved or escalate.

While the rally has lifted gold to breathtaking levels, Bank of America cautioned that the market may experience short-term pullbacks as speculative positioning becomes crowded. Historically, gold prices have tended to retrace briefly after such rapid climbs.

Still, the underlying fundamentals remain robust. The bank’s research indicates that a continued increase in investment demand—particularly from institutional funds and central banks—could push gold higher in the medium term. The projection for a 14% growth in demand mirrors this year’s strong performance, which has already sent shockwaves through commodity markets.

A Broader Precious Metals Rally

Gold’s surge has also lifted sentiment across the broader precious metals complex. Silver and platinum have both recorded notable gains, tracking the momentum of the yellow metal. Bank of America noted that while gold remains the “core anchor” of investor portfolios, silver could benefit disproportionately if industrial demand strengthens alongside investment flows.

However, it is gold’s unique dual role—as both a commodity and a financial asset—that has kept it at the center of investor focus. As global uncertainty deepens, its reputation as a store of value appears stronger than ever.

Looking ahead, if Bank of America’s forecast proves accurate, gold could enter a historic new phase, breaking not just price records but redefining investor behavior in an era of heightened financial instability. Analysts say the key variables to watch will be the trajectory of U.S. interest rates, China’s economic performance, and geopolitical developments in the Middle East and Eastern Europe.

With inflation still elevated in major economies and public debt levels reaching record highs, gold’s narrative as a hedge against both monetary and political risk is gaining renewed legitimacy. Investors, it seems, are betting not only on the metal’s luster but also on the world’s enduring uncertainty.