Jefferies' Christopher Wood Predicts Gold Could Reach 10,000 Amid Geopolitical Risks

Christopher Wood of Jefferies forecasts gold prices could reach 10,000 within five years, driven by geopolitical tensions, central bank purchases, and structural shifts in global reserves. He advises leveraged gold investors to consider taking profits amid a potential 6 to 18-month consolidation. Wood highlights gold and oil stocks as key hedges against geopolitical risks and notes the possibility of the US revaluing gold on its Treasury balance sheet to manage debt. Central banks outside the G7 have been significant buyers since 2022, following the freezing of Russian reserves.