Wells Fargo raises its 2026 gold target to USD 6,100-6,300/oz citing geopolitical risks, market volatility, and strong central-bank demand
Newsquawk Staff ·
Wells Fargo raises its 2026 gold target to USD 6,100-6,300/oz citing geopolitical risks, market volatility, and strong central-bank demand.
What it means
Wells Fargo's upward revision of its 2026 gold target indicates a significant shift in their bullish outlook, driven by geopolitical uncertainties and strong demand from central banks. This suggests investors may increasingly seek gold as a safe haven in response to market volatility, which could bolster prices and impact related assets, particularly in commodities and currencies.
- Iranian President Pezeshkian and Russian President Putin discussed energy cooperation and trade
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- Iranian President Pezeshkian, at a meeting with Russian President Putin, says there is no point in hoping for the US to resolve problems in the Middle East
- Russian President Putin says he discussed the situation in the Middle East one-on-one with Iranian President Pezeshkian and it is a reason for concern, according to Russian press
- Israeli PM Netanyahu requests extension of voting in the legislative elections until after 10pm
Related headlines
- Russian Foreign Minister Lavrov says the Ukraine conflict is likely to continue and will likely escalate. Leaders of Finland and Norway raised no new proposals.2 hours ago
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects3 hours ago
- US EQUITY OPEN: Indices in the green as Tech sector outperforms as earnings continue4 hours ago
- US President Trump says the US will officially ban the term "AI/Artifical Intelligence", due to inaccuracy 1 hour ago
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil2 hours ago
- US President Trump on Truth says "Consumer Confidence is up 7.5%, an extremely big rise"2 hours ago
- US President Trump posts "Congratulations to Lorne Doerkson on his Big Victory. Conservatives are moving strong in Canada!"3 hours ago
- Atlanta Fed GDPnow Model (Q3): 3.5% (prev. 3.4%)2 hours ago
- Russian President Putin holds bilateral meeting with Iranian President Pezeshkian1 hour ago
- PREVIEW: Federal Reserve Rate Decision due Wednesday, October 28th at 18:00GMT/14:00EDT1 hour ago
- US sells USD 70bln of 5-year notes; Tail 0.4bps52 min ago
- Constellation Energy (CEG) has been offered USD 5bln in financing by the US government for nuclear reactors2 hours ago
- Meta's (META) USD 25bln stock offering ended five-times oversubscribed, Bloomberg reports3 hours ago
- US FTC has reportedly told Cintas (CTAS) and UniFirst (UNF) that they will block the USD 5bln merger, Semafor reports3 hours ago
- AMD (AMD) and Meta (META) collaborate across CPUs, GPUs, networking, systems and software to power Meta services and AI infrastructure; AMD will invest USD 1bln in Meta's equity offering4 hours ago