Quote of the Day
The price of gold is rapidly approaching the S&P 500 stock price index. If the S&P 500 reaches 10,000 by the end of 2029, as we expect, gold should trade at $10,000 if our trend analysis is correct.
Ed Yardeni
December 16, 2025
Forget the bond vigilantes. It’s the gold vigilantes you need to worry about.
See also Long-time strategist Ed Yardeni sets surprise 2026 gold price target and Gold price could hit $10,000 by 2029 end, says Ed Yardeni – CNBC TV18.
Be aware, of course, another way to think of this is that dollars are dropping in value at this rate.
Prepare appropriately.
As a person who “was not involved in this study”, I think that ordinary market forces are a continuing component of price change. Just for one, the tension between supply and demand never sleeps.
1) Dollar dropping in value
2) China buying up physical gold
Both contribute to higher gold prices in dollars.
But platinum and silver also also spiking, and that started early in 2025 after a decade of trading in a narrow range. So either the supply of all these metals has dropped, China is buying all of them very recently, or the dollar is an anaconda sleeping off a huge meal of inflationary deficit spending, larger than before.
Forget the politicians; they’ll spend all day long as long as they keep their power, status and pay. You just can’t seem to get the voters to figure out that a weak currency is a national defense problem, not just a kitchen-table issue.