News > Why are gold prices rising? Chris Wood of Jefferies explains

Why are gold prices rising? Chris Wood of Jefferies explains

22/04/2024 12:46 PM | Click to read full article

Gold prices have been on an uptrend in the last few months, rising nearly 28 per cent to $2387 per ounce now. This rise in gold price, according to Christopher Wood, global head of equity strategy at Jefferies, is attributed to the demand from China amid a lack of investor euphoria as regards the yellow metal. “The PBOC has bought gold for 17 months in a row, according to the official foreign reserves data,” Wood wrote.

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