Woofun AI notes that Wells Fargo strategist Sameer Samana observes a reversal in gold’s risk-reward structure following a more than 20% decline from January highs. The market has largely priced in Federal Reserve tightening expectations, with current pressure stemming from rising oil prices and real yields. While short-term technical risks remain, including a potential drop to $3,500, the long-term uptrend is considered intact. Samana suggests that an economic slowdown could trigger rate cuts, providing upward momentum. Wells Fargo Investment Institute projects gold could reach $5,300-$5,500 by end-2026 and $5,800-$6,000 by end-2027.