Wells Fargo raised its 2026 gold target to $6,100–$6,300, citing rising geopolitical tensions, macro developments and strong central bank demand. The bank sees about 23–27% upside from spot gold near $4,900 by the end of 2026.
The firm called the recent pullback a healthy correction, and spot gold is down more than 10% from its late‑January record after rising over 30% above the 200‑day average. A post by Walter Bloomberg linked the update and market context, with the original post available here.
Central bank buying has pushed official gold holdings to about $5.0 trillion, exceeding foreign official Treasury holdings near $3.9 trillion. The The Kobeissi Letter highlighted this shift in a tweet, writing “BREAKING: Gold has officially overtaken US Treasuries in central bank FX reserves for the first time in at least 20 years.” See the tweet here (Ed. note: official gold holdings have roughly tripled since Q4 2019, with central banks adding about 4,500 tonnes).
Market posts urged investors to use the dip as a buying opportunity. One market message even stated “BUY THE GOLD DIP”, with related commentary available here.
