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.
