Wells Fargo Predicts Gold Price to Reach 6,300 US Dollars by 2026

JAKARTA, KOMPAS.com – Global financial institution Wells Fargo is maintaining its bullish view on gold prices despite the precious metal facing short-term pressures.

In its latest report, the Wells Fargo Investment Institute has raised its projection for the global gold price at the end of 2026 to the range of 6,100 US dollars to 6,300 US dollars per troy ounce.

This projection is a significant increase compared to the previous estimate in the range of 4,500 US dollars to 4,700 US dollars.

Gold prices are known to be under pressure amid a combination of macroeconomic factors, including interest rate policies and the strengthening of the US dollar.

Quoted from Mining.com on Monday (30/3/2026), in recent times, gold has even fallen by around 15 percent in one month, reflecting increased market volatility.

This pressure occurs as the market considers the direction of US monetary policy amid still relatively high inflation. This condition reduces the appeal of gold as a non-yielding asset.

“Energy price increases due to the ongoing escalation of the war are exacerbating inflation,” said Meger.

He added that this condition is one of the factors pressuring gold prices in the short term.

“I don’t think there’s a lack of demand for safe-haven assets. I just believe that other pressures outweigh that demand,” he said.

Previously, gold prices had hit an all-time high of around 5,600 US dollars per troy ounce in January 2026.

However, after that, prices experienced a correction of about 19 percent and moved in the range of 4,400 US dollars per troy ounce by the end of March 2026.

This correction was triggered by several factors, including the strengthening of the US dollar, rising real yields, and a shift in market sentiment towards risk-on assets in line with global geopolitical dynamics.