Gold prices, Nov. 7 -- Christopher Wood, Global Head of Equity Strategy at Jefferies, believes a further correction is likely in gold prices, which would make them more attractive for long-term calculation.

According to Wood, this level would coincide with the 200-day moving average (DMA), requiring gold to correct another 16% from current levels.

Gold prices have crashed over 8% from the all-time peak of $4,381.5/oz on October 20, 2025. This peak, Chris Wood explained in the latest Greed & fear report, was 33.3% above the prevailing 200-DMA, a key indicator used by investors to gauge long-term trends. Such a divergence from the average tends to suggest that the asset has been performing strongly, potentially entering overbought territo...