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Jefferies strategist says gold pullback is an opportunity to rebuild exposure

Gold has dropped about 7% from the start of the year after record highs earlier this year and a sharp retreat in July.

Reported · Written up by our desk · Precious Metals

Gold is back in focus after a volatile year, with the metal sliding about 7% from the beginning of the year following record highs earlier this year and a sharp correction in July, according to LiveMint Markets.

Jefferies' Global Head of Equity Strategy Christopher Wood said the recent decline should be treated as a pause rather than a warning sign, urging investors to rebuild exposure to both gold and gold mining stocks.

Wood linked his outlook to a mix of market uncertainties, including shifting views on inflation and interest rates, geopolitical tensions in the Middle East, and questions around artificial intelligence-driven investment.

He argued that if tightening credit conditions slow AI related corporate spending and market expectations move toward potential US monetary easing, that historically would be supportive for gold, and he framed his stance as a fresh push after earlier caution following the metal's surge.

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