Ed Yardeni is very bullish on gold amid demand for save haven investments. The market veteran feels that gold prices could reach $10,000 per ounce or ₹8.89 lakh in the international markets by 2028, zooming 150 per cent if the upward trend continues.
In a note, the noted investor and president of Yardeni Research, upped his bullish calls on gold, as the yellow metal has repeatedly reached his forecasts ahead of schedule, Fortune reported.
Trump tariffs push gold prices, investors seek safe haven
Notably, gold prices crossed $4,000 an ounce this week and then bumped up some more after United States President Donald Trump added 100 per cent tariffs on China and announced limits on US software exports.
As the markets crashed, investors flocked to safe haven options such as gold aand silver.
Why does Ed Yardeni thinks gold will touch $10,000?
Yardeni in his note listed a number of factors for why gold coukd siar to record highs. He noted the metal’s traditional role as a hedge against inflation, central banks de-dollarising after Russia’s assets were frozen, the bursting of China’s housing bubble, and Donald Trump’s trade policy as key reasons.
“We are now aiming for $5,000 in 2026. If it continues on its current path, it could reach $10,000 before the end of the decade,” according to Yardeni.
As per the projections, taking into account gold’s trajectory since late 2023, the price could by 2028-29 reach the $10,000-per-ounce milestone.
Tailwinds pushing gold: Should you buy?
In his note, Hamad Hussain, said that the FOMO factor makes it difficult to “objectively” value. But h eexpects the rise to continue as long as tailwinds remain.
Hussain also feels that gold prices are rising as investors await the US Federal Reserve decision on rates, geopolitical uncertainty and other concerns .
“As ever, the lack of an income stream makes it notoriously hard to value gold objectively. On balance, we think that gold prices will probably grind higher in nominal terms over the next couple of years,” Hamad Hussain said.
