Wells Fargo revamps gold price target for the rest of 2026

Wells Fargo Investment Institute cut its 2026 gold price target to $4,900-$5,100 an ounce from $5,300-$5,500, and trimmed its 2027 target to $5,400-$5,600 from $5,800-$6,000. The bank’s earlier bullish case, built on expectations for Fed rate cuts and continued central-bank buying, has been undermined by higher Treasury yields, a stronger dollar, slower central-bank demand, and gold ETF outflows. Spot gold is around $4,397, so the revised target still implies upside, but far less than previously expected. The article frames this as a timeline shift rather than a full reversal: Wells Fargo remains constructive on gold longer term, but investors should now expect the move higher to be slower and pushed into 2027.