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      Wells Fargo Lowers 2026 Gold Price Forecast to $4,900-$5,100

      Wells Fargo Investment Institute has revised its gold price forecast for 2026, now predicting the metal will finish the year between $4,900 and $5,100 per ounce. This adjustment marks a significant decrease from the previous estimate of $5,300 to $5,500 made in June, and a stark drop from the initial target of $6,100 to $6,300 set at the beginning of the year.

      The downward trend in gold price expectations reflects a broader recalibration among financial institutions, largely influenced by the Federal Reserve's hawkish stance on interest rates. As the opportunity cost of holding non-yielding assets like gold increases, the market has responded with lower price targets. Wells Fargo's adjustments follow similar moves by Goldman Sachs and HSBC, which have set their gold price targets at $4,900 and approximately $4,560, respectively.

      Despite these cuts, Wells Fargo maintains a long-term bullish outlook for gold, citing ongoing central bank purchases and geopolitical uncertainties as key factors that could support prices in the future. Central banks have been accumulating gold reserves at a heightened pace, viewing it as a hedge against dollar dominance and potential sanctions risks.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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