Gold To $10,000? Jefferies’ Christopher Wood On What’s Driving Prices

Gold could be headed towards $10,000, according to Christopher Wood, Global Head of Equity Strategy, Jefferies. In an exclusive conversation with Sakshi Batra, Business Today TV, Wood says he remains bullish on gold over the long term despite the metal being in a consolidation phase. He argues that the US may struggle to sustain significantly higher interest rates given its fiscal position, supporting the case for gold. Wood says investors without gold exposure should consider buying, while existing investors could add if prices correct towards the $4,000-$3,800 levels. He also highlights the growing monetisation of household gold holdings in India through the expanding gold lending market. Wood says a $10,000 gold price would be a major positive for Indian consumption spending.