The double 10K scenario: Wall Street veteran says the S&P 500 and gold can each reach that mark by the end of the decade

Yardeni Research forecasts a long-term “double 10K” scenario: the S&P 500 could reach 10,000 by the end of the decade, and gold could follow to $10,000 as investors rebalance. In the nearer term Yardeni expects gold to climb to $5,500/oz by end-2026 from about $4,553 currently, arguing a cease-fire in the Iran conflict would help restart gold’s rally. The note says the S&P 500 has been hitting record closes since a March low, while gold has struggled to reclaim a January peak. Tailwinds for stocks and potential rebalancing into gold are bullish, but a stronger dollar and a possibly hawkish Fed this summer could temper gold’s advance.