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11 June | Gold

Gold could reach $3,600 by 2026 amid economic tensions — Wells Fargo

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Gold
Gold could reach $3,600 by 2026 amid economic tensions — Wells Fargo

Wells Fargo forecasts that gold prices could hit record highs by 2026 due to ongoing global economic uncertainty. The bank's analysts project the precious metal may rise to $3,600 per ounce following a potential short-term correction to $3,000–3,200 by late 2025.

According to Wells Fargo, geopolitical tensions and risks associated with US trade policies remain key drivers of gold demand. Notably, central banks currently account for 21% of global gold consumption. The company predicts both financial institutions and private investors will continue buying bullion as a hedge against uncertainty.

While Wells Fargo highlights gold's strong potential along with energy commodities, it cautions that current high investor optimism could lead to price corrections in these assets.

Anton Volkov MarketCheese

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