Wells Fargo Advises Clients to Buy Gold Dip
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy WFC?
Source: CNBC
- Gold Price Correction: Gold prices have fallen over 10% from the record high of $5,594.82 per ounce on January 29, but Wells Fargo views this pullback as a healthy correction, anticipating another rally soon.
- Futures Market Rebound: U.S. gold futures for April delivery have rebounded above $5,000, although still below the historical high of $5,300, indicating sustained demand and confidence in the gold market.
- Investment Recommendation Adjustment: Wells Fargo raised its 2026 year-end price target for gold to a range of $6,100 to $6,300, implying at least a 20% gain, reflecting optimism about the current price dip as an opportunity to increase exposure.
- Market Outlook: Analyst Edward Lee noted that the gold market will continue to be driven by geopolitical uncertainty, macroeconomic volatility, and central bank demand, suggesting that the bull market is not over and investors should seize the opportunity.
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Analyst Views on WFC
Wall Street analysts forecast WFC stock price to rise
17 Analyst Rating
10 Buy
6 Hold
1 Sell
Moderate Buy
Current: 86.290
Low
74.00
Averages
98.66
High
113.00
Current: 86.290
Low
74.00
Averages
98.66
High
113.00
About WFC
Wells Fargo & Company is a financial services company. The Company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions. The Company operates through four segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The Company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the Company offers financial planning, private banking, investment management, and fiduciary services. It also provides financial solutions to businesses through products and services including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- DoorDash Performance: DoorDash shares, with an RSI of 16.45, fell over 12% this week; however, Bank of America reiterated its buy rating, suggesting that a strong first-quarter outlook could serve as a clearing event, reflecting confidence in its future performance.
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- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding for ETFs helps identify those experiencing notable inflows (new units created) or outflows (old units destroyed), allowing for an assessment of their impact on underlying assets and shifts in market sentiment.
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- Tariff Adjustments: President Trump plans to roll back some tariffs on steel and aluminum, causing shares of U.S. steelmakers like Nucor and Cleveland-Cliffs to drop in premarket trading, reflecting market sensitivity to policy changes and their potential impact on related industries.
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