Wells Fargo's Samana Says Gold Risk-Reward Has Flipped, Targets $5,300-$5,500 by Year-End

According to Sameer Samana, Head of Global Equities and Real Assets Strategy at Wells Fargo, in an interview with Kitco News, gold's risk-reward profile has shifted favorably despite the metal's struggle below $4,100 an ounce. After declining more than 20% from its January record high, Samana said much of the downside risk has already been priced in, as gold prices now reflect anticipated Federal Reserve rate hikes. "The risk-reward has flipped quite a bit since the peak," he noted, adding that investors should focus on long-term trends rather than short-term volatility. While Samana warned of potential near-term weakness toward $3,500, Wells Fargo maintains a bullish longer-term outlook, forecasting gold to reach $5,300-$5,500 by end of 2026 and $5,800-$6,000 by end of 2027.
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