Earlier this year, one of Wall Street's most closely watched research arms made a bold commodity price call, the boldest any large institution had made in years.
The forecast turned heads. It implied the kind of return that usually only shows up in speculative ******* ets. And for a few months, the trade was working.
Then the market changed. The call got walked back. Then walked back again. This is the third revision in 2026 alone, and the gap between where Wells Fargo started the year and where its forecast sits today is large enough to matter for anyone who has been tracking it.
Wells Fargo Investment Institute lowered its 2026 gold price target to $4,900 to $5,100 an ounce from the previous range of $5,300 to $5,500. Its 2027 target also dropped, to $5,400 to $5,600 from $5,800 to $6,000. Both ranges came down by $400 at each end.
In February, Wells Fargo raised its 2026 gold target to $6,100 to $6,300. Gold was trading near $4,961 at the time. The bank was calling for 23% to 27% upside by year's end.
#call #forecast
The forecast turned heads. It implied the kind of return that usually only shows up in speculative ******* ets. And for a few months, the trade was working.
Then the market changed. The call got walked back. Then walked back again. This is the third revision in 2026 alone, and the gap between where Wells Fargo started the year and where its forecast sits today is large enough to matter for anyone who has been tracking it.
Wells Fargo Investment Institute lowered its 2026 gold price target to $4,900 to $5,100 an ounce from the previous range of $5,300 to $5,500. Its 2027 target also dropped, to $5,400 to $5,600 from $5,800 to $6,000. Both ranges came down by $400 at each end.
In February, Wells Fargo raised its 2026 gold target to $6,100 to $6,300. Gold was trading near $4,961 at the time. The bank was calling for 23% to 27% upside by year's end.
#call #forecast
1 day ago
