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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.
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