The Birmingham Mail claims both Premier League teams will attempt to land the ace in January to provide a mid-season boost.
Balde is currently on loan at Inter from Monaco but has struggled to make an impact so far.
He has just two goals and one assist in 14 matches this season.
But Manuel Pellegrini and Nuno Espirito Santo reckon Balde could make a big impact in English football.
Inter are apparently open to terminating his loan in order to bring in fresh faces for their Serie A title challenge.
But Monaco will demand West Ham and Wolves cough up £4.5million to sign Balde until the end of the season.
The former Lazio man only moved to Monaco in 2017.
But he could soon find himself at the London Stadium to fill the void left by Andriy Yarmolenko’s injury.
Or even Molineux, where Balde would compete with the likes of Helder Costa and Ivan Cavaleiro for a place in the front three.
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