Top bank revamps gold price target for rest of 2026

Gold has intelligibly been connected everyone's radar, and Wells Fargo conscionable backed that affirmative sentiment with immoderate eye-popping numbers.

The Wells Fargo Investment Institute conscionable bumped its year-end 2026 golden people to $6,100 to $6,300 an ounce, which is up substantially from its erstwhile $4,500 to $4,700 range.

Doing the math, that equates to a $1,600 upward reset, oregon astir a 35% hike crossed the band. From today’s spot terms of astir $4,961, Wells Fargo is fundamentally calling for a whopping 23% to 27% upside.

Though it hasn’t precisely been a consecutive enactment for the shiny yellowish metallic of late, the sentiment is acold much charismatic to different parts of the market, particularly tech and AI stocks.

Over the past week, it has been thing abbreviated of carnage, with the brutal selloff wiping distant nearly $1 trillion from bundle and services stocks, Fox Business reported. In fact, immoderate bundle indexes person shed more than 15% successful worth in days, not months.

After a mates of years of outsized gains from tech, investors are successful "show me" mode with AI,  earnestly questioning it arsenic a semipermanent nett motor for businesses.

Moreover, AI bellwether stocks similar Amazon plunged astir 9% aft the institution flagged astir $200 cardinal successful superior spending done 2026, according to Reuters, alongside akin numbers from different comparable tech giants.

That’s precisely wherefore billionaire capitalist Ray Dalio of Bridgewater fame dismissed the caller pullback successful golden prices astatine the World Government Summit successful Dubai.

Against that backdrop, Wells Fargo’s golden terms people reset makes a batch much sense, arsenic the shiny metallic doesn’t precisely request a flawless execution narrative.

Here are the astir caller golden targets, on with their upside/downside compared to the existent spot golden terms astatine $4,961/oz.

• J.P. Morgan: $6,300 (end-2026) +27.0%

• UBS: $6,200 (2026 target) +25.0%

• Deutsche Bank: $6,000 (2026 target) +20,9 %

• Goldman Sachs: $5,400 (end-2026) +8.8%

• Macquarie: $4,323 (average 2026 forecast) -12.9%
  Sources: Reuters, Investing, TheStreet

Gold’s caller surge and steep pullback look chaotic, but the forces down the moves are consistent.

In particular, cardinal banks proceed to enactment arsenic structural buyers (I’ll get to this successful much item successful different section).  Throw successful a dose of geopolitical and argumentation uncertainty, and the lawsuit of the safe-haven concern becomes adjacent stronger.

The rates substance arsenic well.

Related: Morgan Stanley tweaks AMD banal terms people post-earnings

Even with the spike successful volatility, the markets are inactive pricing successful at slightest a mates of complaint cuts successful 2026, which efficaciously lowers the accidental outgo of holding a non-yielding plus specified arsenic gold.