Repeat after me this quote from Miss Manners:
"There is no such thing as an obligatory gift."
"There is no such thing as an obligatory gift."
"There is no such thing as an obligatory gift."
She doesn't say "except in the case of weddings." More and more, the word "gift" has become corrupted to mean anything but what it is----a gift is something you choose to make, it is never required. Period. Full stop. It doesn't matter if the wedding hosts are paying $1,000 per plate. A gift is never, never obligatory.
That said---you can see already by the responses on this thread that reasonable people may disagree with the hard line here. So, to me, the question isn't "it is required" but "can I personally stand the discomfort I might feel if my actions don't meet with approval from everyone." You will not be wrong to go to a wedding without bringing a gift, but being right doesn't always mean feeling your actions are happily accepted. Only you can know what your relationship is with the happy couple and if they'd prefer your presence sans present, or prefer you not come.
I guessed quite wrong on this on a wedding of someone I thought was a friend 20 years ago when I was broke and she lived across the country---paying to get there was, to my thought, my gift. She apparently didn't feel the same way. Our friendship cooled afterward, but I learned something I needed to know about where I stood with her.