FACTBOX-Wells Fargo lifts end-2026 target for gold to $6,100-$6,300/oz
Feb 4 (Reuters) - Wells Fargo Investment Institute (WFII) has raised its end-2026 gold price target to $6,100–$6,300 an ounce, citing expectations of lower short-term interest rates and sustained central bank demand, it said in a note on Wednesday.
The bank had previously projected year-end prices in a range of $4,500–$4,700.
Spot gold is currently trading around $4,920 per ounce after touching a record high of $5,594.82 on January 29. Prices have gained about 14% so far this year after rising over 64% last year.
"The prospect for lower short-term interest rates and the potential to hedge against accelerating policy surprises prompt us to raise our 2026 gold target," WFII said, adding that such conditions should encourage further central-bank buying.
However, WFII noted that central-bank purchases slowed in 2025 even as retail buying surged, especially into exchange-traded funds.
Historically, retail investors often include speculators who may sell quickly on headlines, the bank said. Spot gold fell 9% in a single session on January 30 after news emerged about a nominee for the chair of the U.S. Federal Reserve.
Following is a list of analysts' latest gold price forecasts (in $ per ounce):
Brokerage/Agency | Annual Price Forecast | Price Targets | Forecast as of |
| 2026 |
|
|
Wells Fargo Investment Institute* | Expects $6,100-$6,300 by end of 2026 | February 4, 2026 | |
J.P. Morgan | $6,300 | Expects prices reaching $6,300 by 4Q26 | February 2, 2026 |
UBS | - | Raises target to $6,200 for March, June, and September 2026 | January 29, 2026 |
Deutsche Bank | $5,500 | $6,000 in 2026 | January 26, 2026 |
Societe Generale | - | $6,000 by the end of 2026 | January 26, 2026 |
Morgan Stanley | $4,600 | Bull case is $5,700 for second half of 2026 | January 23, 2026 |
Goldman Sachs | - | $5,400 by December 2026 | January 22, 2026 |
Citi Research | $5,000 | Raises 0-3 month price target to $5,000 | January 13, 2026 |
HSBC | $4,587 | $4,450 by year-end 2026 | January 8, 2026 |
ANZ | $4,445 | $4,400 by year-end and $4,600 by June 2026 | October 16, 2025 |
Bank of America | $4,438 | 2026 gold outlook raised to $5,000 | October 13, 2025 |
Standard Chartered | $4,488 | - | October 13, 2025 |
Commerzbank | $4,900 | $4,800 by mid-2026 | January 13, 2026 |
*end-of-period forecasts
Related Articles
National Debt Bomb Ignited? Musk Warns U.S. Will Be 1000% Bankrupt Without AI
TradingKey - Tesla (TSLA) CEO Elon Musk recently issued another warning regarding the rapidly ballooning U.S. national debt. He stated clearly that without artificial intelligence and robotics, the United States will inevitably head toward fiscal bankruptcy.
Tesla Stock Outlook: Competing With Rivian, Robotaxi Potential, and 2026 Prospects
There is much conversation about the prospect of investing in Tesla (TSLA) as we move closer to 2026. The volatility of its share price in 2025 is leading many investors to consider if they should purchase shares of Tesla given the alternatives available in terms of electric vehicles (Rivian, etc.).
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
Is Bitcoin’s Four-Year Cycle Dead in 2026?
Is the Bitcoin 4-year cycle dead? After 2025 broke historical records with a red post-halving year, institutional analysts explore if the Bitcoin price has decoupled from the halving countdown. Analyze the impact of spot ETFs, global liquidity, and the roadmap to the 2028 halving in this 2026 market
