Wells Fargo thinks this one asset may be ‘the next big play’ — for nervous investors, it could also serve as a much-needed safe haven

Wells Fargo thinks this one asset may be ‘the next big play’ — for nervous investors, it could also serve as a much-needed safe haven

According to Wells Fargo, the rest of 2022 looks good for the price of gold.

Thanks to hot inflation, geopolitical uncertainty and a crashing stock market, the banking giant sees gold as the next big opportunity for investors — particularly in relation to bitcoin.

"On the store-of-value front, bitcoin has been getting much of the attention lately, but we think gold may be the next play,” Wells Fargo’s head of real asset strategy John LaForge says. “Gold's price chart appears to be slowly grinding higher, while bitcoin's price has been stuck in a wide $30K to $69K range for the past 12 months.”