PANews reported on December 23 that U.S. stocks are expected to close the last full trading day before the Christmas holidays with a lackluster performance, with the S&P 500 index rising only 1.6% in December. Meanwhile, the precious metals market continues its strong performance, with gold rising 9% and silver surging 36% in December, both poised to reach new all-time highs.

Yardeni Research has raised its gold price target, predicting it will reach $6,000 by the end of 2026 and potentially $10,000 by the end of 2029, surpassing JPMorgan's high of $5,055 for the end of 2024. Yardeni points out that geopolitical risks and market concerns about excessive monetary and fiscal stimulus are driving the rise in gold prices.

In addition, Yardeni emphasized that gold and the S&P 500 are negatively correlated in the short term, but their long-term trends are consistent. He expects both the S&P 500 and gold prices to reach 10,000 points/dollar by the end of 2029.