One of Wall Street ’s biggest gold supporters is turning up the heat on its gold forecast, at least a little bit.
In a report released late last month, Wells Fargo raised its year-end price target for gold to between $1,800 and $1,900 an ounce, an increase from its previous forecast of $1,650 and $1,750 an ounce.
Although the bank is bullish on gold, John LaForge, head of real asset strategy for Wells Fargo and author of the latest report, said that he doesn ’t see gold prices pushing to $2,000 this year.