- Wells Fargo predicts Gold prices could reach $4,900 by the end of 2026.
- Gold has rebounded 7% in the last three weeks, climbing above $4,300.
- Central bank accumulation and geopolitical uncertainties are supporting the metal’s price.
After struggling to hold above $4,100 since March amid Middle East negotiations and rising oil prices, gold has surged 7% in the last three weeks. The rebound pushed the XAU/USD index above $4,300, where it remains in positive territory.
Wells Fargo now predicts gold could end 2026 trading at $4,900. The XAU/USD index is currently at $4,342 with a 0.18% surge, hovering near break-even year-to-date at -0.37%.
The investment bank urged clients to take entry positions in the commodity, citing a positive market outlook. It highlighted that central banks have barely stopped accumulating gold in 2026, which stabilized prices at $4,000 and prevented a drastic fall.
“We believe these same geopolitical and market uncertainties reinforced gold’s role and supported the rebound in central bank purchases during the second quarter,” read the note to clients. Wells Fargo also suggested gold could be the top performer in the commodity segment by the end of 2026.
According to the bank, gold prices could rise another 13% until December 2026. The metal has remained under the spotlight since the Russia–Ukraine war broke out in February 2022, with central banks relentlessly accumulating and diversifying their reserves. The demand has yet to cool, and investors who bought in 2022 have already doubled their money in 2026.
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