Wells Fargo doubles down on gold price despite slump

2026-04-02 01:08:05

Wells Fargo has reaffirmed its bullish outlook on gold despite a recent 15% price slump, citing long-term drivers like lower interest rates, central bank buying, and geopolitics. The bank views the current dip as a temporary setback caused by inflation concerns and shifting safe-haven capital, presenting a “tactical opportunity” for buyers. Wells Fargo has raised its year-end price target for gold to $6,100-$6,300 an ounce, a significant increase from its previous forecast.

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