diff --git a/CHANGELOG.md b/CHANGELOG.md
index 347636f371f8..e3d37409196b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -218,6 +218,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#11222](https://github.com/cosmos/cosmos-sdk/pull/11222) reject query with block height in the future
 * [#11229](https://github.com/cosmos/cosmos-sdk/pull/11229) Handled the error message of `transaction encountered error` from tendermint.
 * (x/authz) [\#11252](https://github.com/cosmos/cosmos-sdk/pull/11252) Allow insufficient funds error for authz simulation
+* (cli) [\#11313](https://github.com/cosmos/cosmos-sdk/pull/11313) Fixes `--gas auto` when executing CLI transactions in `--generate-only` mode
 
 ### State Machine Breaking
 
diff --git a/client/tx/factory.go b/client/tx/factory.go
index 5e8053282238..15032250a813 100644
--- a/client/tx/factory.go
+++ b/client/tx/factory.go
@@ -276,7 +276,14 @@ func (f Factory) PrintUnsignedTx(clientCtx client.Context, msgs ...sdk.Msg) erro
 			return errors.New("cannot estimate gas in offline mode")
 		}
 
-		_, adjusted, err := CalculateGas(clientCtx, f, msgs...)
+		// Prepare TxFactory with acc & seq numbers as CalculateGas requires
+		// account and sequence numbers to be set
+		preparedTxf, err := f.Prepare(clientCtx)
+		if err != nil {
+			return err
+		}
+
+		_, adjusted, err := CalculateGas(clientCtx, preparedTxf, msgs...)
 		if err != nil {
 			return err
 		}