Gold could hit $10,000/oz in 5 years: Jefferies analyst
Gold might not just be for your grandma's jewelry box—Chris Wood from Jefferies thinks it could hit $10,000 an ounce within five years.
He points to global tensions and big central banks stocking up on gold as the main reasons.
For investors, he suggests taking profits if you're using borrowed money but holding on if you're not.
Spot gold hits US$5,368.09/oz
Gold is having a moment—after recent US-Israel strikes on Iran, everyone's looking for safe places to park their cash.
That pushed spot gold to about $5,368.09 an ounce (US futures $5,382.60/oz), and physical gold in India was reported at ₹1,73,090 per 10gm as of March 2, 2026.
If the trend continues and demand stays strong, gold could keep climbing.
Central banks are loading up on gold
Non-G7 central banks have been buying up gold every quarter since 2022—ever since Russia's reserves got frozen.
Now central banks' gold holdings are even bigger than their stash of US Treasury bonds.
Jefferies considers $6,600 a fair price; other major banks are also bullish with targets around $6K-$6.3K.
But heads up: if the US Federal Reserve gets strict on rates again, prices might dip a bit first.