Market Watch: Ed Yardeni Said Gold Would Top $4,000 by Year-end. He Was Right. Here's What He Foresees in 2026.
Article by Barbara Kollmeyer in Market Watch
Stocks are set for a muted session on the last full day of trading before the Christmas break, even if it’s a busy one data wise.
We’re also one day away from the official start of the Santa Rally period — defined by the Stock Trader’s Almanac as the last five trading days of the current year and first two of the new year (see below chart for more). Stocks could definitely use a boost, considering December has been a relatively dull one for the S&P 500, up just 1.6%.
That’s in contrast to another stellar month for precious metals, with gold climbing 9% and silver up 36% in December, and another session of record highs seemingly on tap for those commodities Tuesday.
That brings us to our call of the day from Yardeni Research, which has just raised the bar, ahem, on gold’s outlook next year.
“When the price of an ounce of gold rose above $3,000 at the start of this year, we projected it would reach $4,000 by the end of this year and $5,000 by the end of next year,” Yardeni, the global investment strategy and asset allocation advice firm founded by its president Ed Yardeni, told clients in a fresh note.
“This evening, the price rose above $4,500. We are raising our year-end 2026 target to $6,000. We still expect to see $10,000 hit by the end of the decade,” they added.
That new target seems to top one of the most optimistic out there — JPMorgan’s forecast, for example, is for a ......