Factbox-Wells Fargo lifts end-2026 target for gold to $6,100-$6,300/oz

Feb 4 (Reuters) - Wells Fargo Investment Institute (WFII) has raised its end-2026 gold price target to $6,100-$6,300 an ounce, citing expectations of lower short-term interest rates and sustained central bank demand, it said in a note ?on Wednesday.

The bank had previously projected year-end prices in a range of $4,500-$4,700.

Spot ?gold is currently trading around $4,920 per ounce after touching a ?record high of $5,594.82 on January 29. Prices ?have gained about ?14% so far this year after rising over 64% last year.

"The prospect ?for lower short-term interest rates and ?the potential to hedge against accelerating policy surprises prompt us to raise our 2026 gold target," ?WFII said, adding that ?such conditions ?should encourage further central-bank buying.

However, WFII noted that central-bank purchases slowed in 2025 even as retail buying surged, ?especially into exchange-traded funds.

Historically, retail investors often include speculators who may sell quickly on headlines, the bank said. Spot gold fell 9% in a single session on January 30 after news emerged about a nominee for the chair ?of ?the U.S. Federal Reserve.

Following is a list of analysts' latest gold price forecasts (in $ per ounce):

Brokerage/Agen Annual Price Targets? Forecast as

cy Price of

Forecas

t

? 2026 ? ?

Wells ?Fargo Expects $6,100-$6,300 by February 4,

Investment end of 2026 2026

Institute*

J.P. Morgan $6,300 Expects prices reaching February 2,

$6,300 by 4Q26 2026

UBS - Raises target to $6,200 for January 29,

March, 2026

June, and September 2026

Deutsche Bank $5,500 $6,000 in 2026 January 26,

2026

Societe - $6,000 by the end of 2026 January 26,

Generale 2026

Morgan Stanley $4,600 Bull case is $5,700 for January 23,

second half of 2026 2026

Goldman Sachs? - $5,400 by December 2026 January 22,

2026

Citi Research $5,000 Raises 0-3 ?month price January 13,

target to $5,000? 2026

HSBC $4,587 $4,450 by year-end 2026 January 8,

2026

ANZ $4,445 $4,400 by year-end and October 16,

$4,600 by June 2026 2025

Bank of $4,438 2026 gold outlook raised to October 13,

America $5,000 2025

Standard $4,488 ?- October 13,

Chartered 2025

Commerzbank $4,900 $4,800 by mid-2026 January 13,

2026

*end-of-period ?forecasts

(Reporting by Sarah Qureshi in Bengaluru. Editing by Mark Potter)