Wells Fargo Investment Institute lowered its gold price targets, revising its year-end 2026 target from $5,300-$5,500/ounce down to $4,900-$5,100/ounce, and its year-end 2027 target from $5,800-$6,000/ounce down to $5,400-$5,600/ounce. Despite the downward revision, the institution still expects gold prices to rise in the long term.