February 2026 - Week 4 Edition
Gold and Silver Prices Revive … While Stocks Sink Further
On Monday, February 23, precious metals soared while the stock market stumbled. On the futures market, the April Gold contract on COMEX rose $145 per ounce (+2.9%), from $5,059 to $5,204 per ounce and the March Silver contract rose by $4.25 (+5.2%) to $86.52. Meanwhile, each of the major stock indexes fell by over 1%, including a daily decline of 821 points in the Dow.
This surge followed the Supreme Court’s Friday ruling that President Trump may not raise tariffs according to the specific law he had cited – but that doesn’t prevent the President and his team from using other legal authorizations to extend global tariffs. As it turned out, the President and his cabinet had already expected this ruling and had their “Plan B” ready, launching new tariffs almost immediately.
In addition to tariff uncertainties, investors are also concerned about rising tensions between Iran and the U.S. Iran even staged a temporary closure of the shipping lane in the Straits of Hormuz, demonstrating its power to stop the transport of most Middle Eastern oil shipments in that region.
The stock market also responded negatively to Monday’s release of U.S. factory orders for December. Pundits had expected a gain of 0.2%, month-over-month, but the actual number was a 0.7% decline, putting a damper on the Administration’s hope for a manufacturing renaissance.
Rising concerns about a major new war in the Middle East have driven crude oil prices higher. Due to these concerns, crude oil is up 22% in two months, rising from $55 in mid-December to $67 a barrel, while gold reached a new three-week high and silver set a new two-week high.
We’re Seeing More Calls for Gold to Reach $10,000 By 2030 … Or even in April!
If you ask “AI” to postulate a scenario for $10,000 gold, one of those rascally robots recently called for $10,000 gold this April – yes, April of 2026 – but only as a “worst-case scenario.”
More rational minds, with decades of real-life market experience, are starting to say gold will reach $10,000 by the end of the decade, or in 2030. We made that case here several months ago and stick by it. Last week, we profiled the prediction of long-time stock market analyst Louis Navellier, who said gold will reach $10,000 by 2030 and his forecast was widely reprinted over the last week.
And now we see Ed Yardeni, Navellier’s favorite economist, saying the same thing about gold and the S&P 500. While $10,000 gold may seem outrageously bullish, it only represents an 18% average annual gain from now to 2030. Gold has grown far faster than that in the past four years.
Aside from myself, Yardeni was one of the first mainstream economists to call for $4,000 gold, then $5,000 gold. In 2025, he predicted gold would accelerate by mid-2026 with a target of $5,000 last year.
Now, Yardeni predicts a $6,000 per ounce gold price, followed by other major benchmarks in 2027-2029:
- 2026 $6,000 per ounce
- 2027 $8,000 per ounce
- 2028 $9,000 per ounce
- 2029 $10,000 per ounce
More recently, J.P. Morgan has upped their 2026 gold projection to $6,300 an ounce and UBS predicted gold will reach $5,900 by the end of 2026. I strongly encourage you to not miss out on this opportunity to buy gold before it reaches these levels. Since the beginning of 2025, gold has almost doubled in value and I said the same thing then. What we have seen is that, typically, after gold makes a significant rise and then pulls back some, in the nine to 18 months following, rare coins tend to follow suit and usually maintain their values. That was especially true when rare coins reached previously unattained highs following the historic bullion and rare-coin market increases from 1976 to 1980 and from 1986 to 1990. Call our professional account representatives today and find out how you can protect your investments and secure gold as an asset in your portfolio.
While most analysts argue that gold and stocks tend to move in opposite directions, Yardeni makes a distinction between short- and long-term trends, writing: “Gold tends to be inversely correlated with the S&P 500 on a cyclical basis. But their trends on a long-term basis have been nearly identical.”
Gold and Silver are soaring once again. Despite a sharp correction in early February, both are up 20% or more so far in 2026, while some of the major stock market indexes fell below zero for 2026, year-to-date. The Dow remains up 1.5%, but the S&P is slightly down and the Nasdaq has lost 2.6% so far in 2026.
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