Wells Fargo raises end-2026 gold forecast to $2,100 per ounce
Wells Fargo raised its end-2026 gold forecast by $100 to $2,100 per ounce and lifted its average H2 2026 projection to $2,025, citing slowing Fed rate hikes and robust ETF inflows. The update underscores shifting central bank policy expectations and could influence the bank’s precious metals trading revenue.
1. Wells Fargo Updates Gold Outlook
Analysts at the bank revised the gold price target for the end of 2026 from $2,000 to $2,100 per ounce and boosted their average projection for the second half of the year to $2,025. They cited expectations for a slower pace of Federal Reserve rate hikes, continued ETF inflows, and geopolitical uncertainty as key drivers behind the revision. The update may impact Wells Fargo’s trading desks and structured products tied to precious metals, potentially boosting related fee income in the coming quarters.