Gold

S&P 500 And Gold Price Racing Toward $10,000 By 2029?

Oct 16, 2025 4 min read paid

We first began writing about our Roaring 2020s scenario in 2020. So far, so good. Both the S&P 500 and the price of gold have been roaring ahead to new record highs this year (chart). We wouldn't be surprised if both hit 10,000 by the end of the decade. The stock price index and the gold price have exhibited an inverse cyclical correlation, but their

Ed Yardeni

Gold Is The New Bitcoin!

Oct 14, 2025 4 min read paid

Investors are mining for gold and rare earth minerals. The SPDR Gold Shares ETF (GLD) and the VanEck Rare Earth & Strategic Metals ETF (REMX) are up 57.3% and 104.4% ytd (Fig. 1 below). The trading volumes of both have increased sharply in recent weeks (Fig. 2 and Fig. 3). Both have been benefiting from rising geopolitical tensions between the US and both Russia and China. On October

Ed Yardeni

GOOD MARKET CALL: Gold

Oct 6, 2025 3 min read

From time to time, we will review and update some of our good market calls. We hope this provides a helpful perspective on our approach to market forecasting. Today, let's review and update our thoughts on the outlook for gold: (1) We first turned bullish on the price of gold on April 7, 2024. We noted that it was breaking out above $2000 per ounce to new record

Ed Yardeni

MARKET CALL: Nothing To Fear But Overvaluation & A Shutdown

Sep 28, 2025 3 min read

The financial markets have become jittery lately due to concerns about high valuation multiples, particularly among AI stocks, and a potential government shutdown. President Donald Trump reportedly will meet with the top four congressional leaders at the White House on Monday as the threat of a government shutdown on October 1 looms. Meanwhile, investors are once again wondering whether the massive spending on AI infrastructure by the "hyperscalers"

Ed Yardeni

Lots Of News

Sep 9, 2025 4 min read paid

There was a lot of news today that, on balance, didn't move the needle much in the financial markets, which are marking time until August's PPI and CPI reports are released on Wednesday and Thursday, respectively. Let's review all the non-events today: (1) Gold & geopolitics. The nearby futures price of gold jumped to yet another record high of $3,707 per ounce this

Ed Yardeni

Gold Is Shining More Brightly Than Ever Before

Sep 2, 2025 2 min read paid

We turned bullish on gold last year when the spot price of the shiny metal decisively rose above $2,000 per ounce (chart). We attributed this new bull market in gold to Russia's invasion of Ukraine in February 2022. In response, the United States and its allies froze the international reserves of Russia's central bank. That convinced the central banks of countries with autocratic governments, which

Ed Yardeni

Gold & Other Commodities

Aug 20, 2025 3 min read

On balance, there aren't a lot of inflationary pressures in the commodity markets. Precious metals are on top of the leaderboard so far this year among the major commodity price gains (chart). Platinum, gold, and silver are ranked #1, #2, and #3. These shiny metals have become safe havens for many investors as a result of unsettling geopolitical crises in the Middle East and Eastern Europe. Global trade

Ed Yardeni

In Defense of the US Dollar

Aug 14, 2025 3 min read

Like the late comedian Rodney Dangerfield, the dollar has been getting "no respect" recently. A few officials of the Trump administration want to see a weaker dollar. America's adversaries would like to replace it as a key currency. Doomsayers predict a major dollar crisis in response to the huge US trade and federal government deficits. We remain constructive on the dollar for the following reasons: (1)

Ed Yardeni

Washington Creates Buzz 24x7

Jul 22, 2025 3 min read paid

Can't we get a day without news coming out of the White House? Yesterday, US Treasury Secretary Scott Bessent called for an "exhaustive internal review" of the Fed's "non-monetary policy operations." He accused the central bank of "significant mission creep." He did so on CNBC in the morning. In a lengthy post on X, Bessent sought to clarify his remarks

Ed Yardeni

Russian Roulette, the Dollar, and Gold

Jul 14, 2025 3 min read paid

The US stock market held up very well today in the face of Trump's escalation of his trade war with the world over the weekend. Maybe that's because he threatened that his latest tariff salvo won't be fired until August 1 (i.e., Liberation Day II). So there is still time to negotiate trade deals. Today, he also threatened to impose 100% "secondary&

Ed Yardeni

A Seinfeld Kinda Day: Nothing Really Happened

May 5, 2025 3 min read paid

Not much happened today in either the stock market or the bond market. Dull days are good for a change. The markets are no longer responding to every comment coming out of the White House. On Sunday, President Donald Trump called Fed Chair Jerome Powell "a total stiff." But he also said that he will not remove the Fed Chair. Today, Treasury Secretary Scott Bessent observed, "The

Ed Yardeni

POTUS Blinks

Apr 23, 2025 3 min read paid

President Donald Trump blinked. So stock prices rose. Late Tuesday, he said that he has "no intention" of firing Jerome Powell, whose term as Fed chair will end in May 2026. That's after berating Powell for the past few days and threatening to fire him. Furthermore, Trump appeared to soften his stance on the US-China trade war on Tuesday, telling an Oval Office press conference that

Ed Yardeni

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