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 […]
Business
Factbox-Wells Fargo lifts end-2026 target for gold to $6,100-$6,300/oz
Audio By Carbonatix
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/Agen Annual Price Targets Forecast as
cy Price of
Forecas
t
2026
Wells Fargo Expects $6,100-$6,300 by February 4,
Investment end of 2026 2026
Institute*
J.P. Morgan $6,300 Expects prices reaching February 2,
$6,300 by 4Q26 2026
UBS – Raises target to $6,200 for January 29,
March, 2026
June, and September 2026
Deutsche Bank $5,500 $6,000 in 2026 January 26,
2026
Societe – $6,000 by the end of 2026 January 26,
Generale 2026
Morgan Stanley $4,600 Bull case is $5,700 for January 23,
second half of 2026 2026
Goldman Sachs – $5,400 by December 2026 January 22,
2026
Citi Research $5,000 Raises 0-3 month price January 13,
target to $5,000 2026
HSBC $4,587 $4,450 by year-end 2026 January 8,
2026
ANZ $4,445 $4,400 by year-end and October 16,
$4,600 by June 2026 2025
Bank of $4,438 2026 gold outlook raised to October 13,
America $5,000 2025
Standard $4,488 – October 13,
Chartered 2025
Commerzbank $4,900 $4,800 by mid-2026 January 13,
2026
*end-of-period forecasts
(Reporting by Sarah Qureshi in Bengaluru. Editing by Mark Potter)