The latest war between Iran and the Israeli-United States alliance has impacted markets worldwide. While many experts believe that the effects of the war will subside over time, bringing all sectors, from equities to crude and real estate markets, back to normal, the changing sentiments may continue to impact the price of gold.
Gold price to double within next 5 years
In a bold claim, Chris Wood, Global Head of Equity Strategy at Jefferies, says the price of the precious metal could double, surging to $10,000 (Rs 3 lakh) within the next five years. He added that gold remains in a powerful structural bull market driven by central bank buying and geopolitical risk. “In my view, gold can easily reach $10,000 within five years,” the market expert told ET Now.
His remarks come at a time when the Middle East is witnessing a surge in conflicts following the US-Israeli joint strike against Iran, sparking a sharp rally in the safe-haven asset amid driven by surge in demand.
