Gold price target, Sept. 19 -- Amid the latest leg of the bull run in gold prices, Chris Wood, the global head of equity strategy at Jefferies, has raised his long-term gold price target after a five-year gap.

In his latest GREED & fear report, the veteran market analyst has suggested that gold prices could climb as high as $6,600 per ounce in the long term, based on historical benchmarks and the growth in US disposable income per capita.

His comments come against the backdrop of gold touching a record high of $3,700/oz level this week in the run-up to the Federal Reserve's policy outcome on Wednesday. However, since then, the gold has faced some consolidation.

(More to come...)

Published by HT Digital Content Services with permission...