The gold price surge is showing no signs of stopping at the moment, compelling leading banking institutions like Wells Fargo to update their gold price forecasts. The banking leader has now forecasted a new price high for gold to break and claim over, with the metal now estimated to hit $6100 to $6300 by the end of 2026.
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Wells Fargo’s New Gold Price Update
Wells Fargo has now come up with a new gold price prediction, stating how the metal is now predicted to be $6100 to $6300 by the end of 2026. The banking lead is predicting an upside of nearly 23% to 27% as the current gold price explores the $4900 price pedestal.
Per a post updated by Walter Bloomberg on X, Wells Fargo is amping up its gold prediction based on rising geopolitical issues, narratives, and macroeconomic development. At the same time, the surging central bank demand for gold is also playing a crucial role in helping gold to surge higher on the radar.
“BREAKING: Gold has officially overtaken US Treasuries in central bank FX reserves for the first time in at least 20 years. Global official gold holdings at market price are up to $5.0 trillion, surpassing foreign official Treasury holdings of $3.9 trillion. Gold holdings have TRIPLED since Q4 2019, driven by aggressive purchases by central banks and rising prices. Over this period, central banks have added ~4,500 tonnes of gold, including unreported purchases. At the same time, foreign Treasury holdings have remained unchanged. Gold is redefining the global monetary system.”
But the Dip Calls Are Soaring High
Wells Fargo has also gone a mile ahead to share that “now” is the time when investors may explore gold holistically. Calling the current gold price pullback a healthy sharp correction, the induction believes the metal may surge to $6K levels by the end of 2026, offering an upside of nearly 23% to 27%.
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