# Wells Fargo Securities' bull case for gold calls for an eyewatering surge to $8,000.

*fintech · news · 2026-04-16 · CNBC*

## Key points

- Wells Fargo Securities projects gold could reach $8,000 an ounce by 2027.
- Ohsung Kwon identifies the current 'debasement' cycle as starting in 2022 via the M2/gold ratio.
- Four out of five modeled economic scenarios predict further debasement and gold price increases.
- Historically, gold debasement cycles average 8.5 years, and the current cycle is only 3.5 years in.
- Kwon's bear case still sees gold potentially falling to $4,000 by end of 2027.

**Companies:** Wells Fargo Securities
**Countries:** United States, Iran, Russia

[Read the full story on CNBC](https://www.cnbc.com/2026/04/16/gold-wells-fargos-bull-case-sees-the-metal-reaching-8000-an-ounce.html)

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