Wells Fargo’s $6,300 gold projection signals an accelerating secular uptrend as bullion decisively reclaims the pivotal $5,000 psychological threshold, reinforcing structural buyer dominance after transient retracement.
The institution’s materially revised $6,100–$6,300 year-end 2026 valuation—superseding the prior $4,500–$4,700 framework—implies residual appreciation of roughly 21–25% from prevailing spot levels near $5,033.
Catalysts remain unequivocal: moderating front-end rate expectations compress opportunity cost, while persistent sovereign accumulation—most notably China’s fifteenth consecutive monthly reserve expansion to 74.19M ounces (~$369B)—establishes a durable demand floor.
Consensus convergence across JPMorgan ($6,300), UBS ($6,200), and Deutsche Bank ($6,000) underscores institutional conviction in an intact precious-metals supercycle.
Conclusion: bullion’s ascent is not exhaustion but inception.
#GOLD #PreciousMetals #Macro #BullMarket
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