Wall Street Veteran's Shocking Prediction: S&P 500 and Gold Could Both Surpass 10,000 Before 2030

Odaily reported that Yardeni Research has released a forecast predicting that both the S&P 500 index and international gold prices could simultaneously reach the 10,000 mark by the end of this decade.

Ed Yardeni, founder and president of the research firm, stated in a client report released on Thursday that the institution is long-term bullish on gold, with the core logic built on the assessment that the S&P 500 will rise to 10,000 points before 2030. As the stock index continues to climb upward, investors will adjust their asset allocations, increasing holdings in categories such as gold, thereby driving gold prices higher.

Yardeni, who has nearly five decades of experience in the financial market, pointed out that in the short term, the S&P 500 index and gold prices typically exhibit an inverse relationship. However, when looking at a longer time horizon, their overall trends tend to converge. According to this pattern, when the S&P 500 reaches 10,000 points, gold prices will also simultaneously reach $10,000 per ounce. Regarding short-term market movements, this seasoned Wall Street figure also holds an optimistic view. He believes that the negative sentiment stemming from the situation in Iran is gradually fading. Once a formal ceasefire is reached between the two parties, gold is poised for a new round of upward momentum. (Jinshi)