Adds forecasts and inputs from Wells Fargo Investment Institute

Feb 4 (Reuters) - Wells Fargo Investment Institute (WFII) has raised its end-2026 gold price target to $6,100–$6,300 an ounce, citing expectations of lower short-term interest rates and sustained central bank demand, it said in a note on Wednesday.

The bank had previously projected year-end prices in a range of $4,500–$4,700.

Spot gold is currently trading around $4,920 per ounce after touching a record high of $5,594.82 on January 29. Prices have gained about 14% so far this year after rising over 64% last year.

"The prospect for lower short-term interest rates and the potential to hedge against accelerating policy surprises prompt us to raise our 2026 gold target," WFII said, adding that such conditions should encourage further central-bank buying.

However, WFII noted that central-bank purchases slowed in 2025 even as retail buying surged, especially into exchange-traded funds.

Historically, retail investors often include speculators who may sell quickly on headlines, the bank said. Spot gold fell 9% in a single session on January 30 after news emerged about a nominee for the chair of the U.S. Federal Reserve.

Following is a list of analysts' latest gold price forecasts (in $ per ounce):

*end-of-period forecasts

(Reporting by Sarah Qureshi in Bengaluru. Editing by Mark Potter)

((SarahS.Qureshi@thomsonreuters.com;))