Wall Street veteran's shocking prediction: S&P 500 and gold both expected to reach 10,000 before 2030

Odaily Planet Daily News Yardeni Research has released a forecast stating that by the end of this decade, the S&P 500 index and international gold prices are both expected to reach the 10,000 mark.

Ed Yardeni, founder and president of the research firm, said in a client report released on Thursday that the institution is bullish on gold's long-term outlook, with the core logic based on the judgment that the S&P 500 index will rise to 10,000 points before 2030. As the stock index continues to climb, investors will adjust their asset allocations, increasing holdings in asset classes like gold, which in turn will drive gold prices higher.

Yardeni, who has nearly half a century of experience in the financial market, pointed out that in the short term, the S&P 500 index and gold prices usually show an inverse relationship, but over a longer time horizon, their overall trends converge. According to this pattern, when the S&P 500 index hits 10,000 points, gold prices will also reach $10,000 per ounce simultaneously. Regarding short-term market movements, this seasoned Wall Street figure is also optimistic. He believes that the negative sentiment stemming from the situation in Iran is gradually dissipating. Once a formal ceasefire is reached, gold will usher in a new round of upward momentum. (Jin Shi)