Gold To Hit $10,000? Ed Yardeni Predicts Yellow Metal To Surge 150% By 2028

At a time when gold prices have risen to $4,000 per ounce levels, it is only natural for market experts to believe that the rally may finally die out soon. But as per Yardeni Research, this is just the beginning of the gold rally and the prices could touch $10,000 by 2028.

Edward Yardeni, president of Yardeni Research, expects gold prices to climb to $5,000 levels by the end of 2026 and potentially even reach $10,000 by 2028. This amounts to a rally of around 150% from current levels.

“Our bullishness is supported by the ‘Gold Put,’ provided by central banks that are increasing the percentage of their international reserves in gold,” Yardeni wrote note in a client note to investors, as seen by Business Insider.

This essentially means that Yardeni expects central banks around the world, particularly in emerging countries, to keep buying gold as a hedge against ongoing geopolitical uncertainty as well as currency risk. This is coupled with the global tariff scenario, which was further compounded by Donald Trump's announcement of 100% tariffs against China.

Keeping all these factors in mind, Yardeni Research expects the upward momentum in gold prices to continue and reach the aforementioned levels. Yardeni's statements come on the back of robust investor demand for safe havens, buoyed by a kind of rally in gold prices not seen in decades.

Indeed, gold prices touched $4,000 per ounce earlier this month, thus extending a record-breaking run that has led to an year-to-date gain of 52%, marking the precious metal's best YTD performance since 1979.

The Business Insider report has also quoted other brokerages, which have differing views on the gold price momentum, with Bank of America expecting the rally to stall around $4,000 levels without ruling out a potential run to $5,000. HSBC expects gold to rally another 8% in 2026 while Goldman Sachs expects a 22% surge during the same period.