Gold Price Hits $4,524 Amid Iran Ceasefire, Forecast Targets $10,000 by 2030

Gold prices jumped 0.58% to $4,524.08 on May 29 as a 60-day ceasefire extension between the US and Iran reduced geopolitical risk. The Strait of Hormuz was declared unrestricted, triggering a rally in precious metals and crushing oil to a six-week low. Yardeni Research now predicts gold will reach $10,000 by 2030 as investors shift money from stocks into hard assets.

Ceasefire Sparks Safe-Haven Rally

Gold climbed 0.58% to $4,524.08 on May 29 after Axios reported a 60-day ceasefire extension between the US and Iran. The deal stipulates that the Strait of Hormuz will remain unrestricted, removing a major supply-chain threat. This geopolitical relief sent investors into precious metals, with silver also rising 0.37% to $75.82.

Yardeni Sees Gold at $10,000 by 2030

Yardeni Research projects both the S&P 500 and gold will hit 10,000 by the end of the decade. The forecast assumes that as stock markets rally, investors will diversify by reallocating funds into gold and other assets. Gold’s rally is expected to resume once geopolitical tensions fully subside, creating a dual-milestone scenario for equities and precious metals.

Oil Collapse Eases Inflation Pressure

WTI crude fell to a six-week low as the ceasefire lifted supply concerns. Brent crude averaged $69 per barrel in the first two months of 2026 before spiking to $100 in March and April. The ceasefire extension has reversed that spike, reducing inflation pressure and potentially supporting central bank rate cuts later in 2026.

Meyka Rates Gold Stock B+, Targets $54.73 Yearly

A-Mark Precious Metals, Inc. (GOLD) trades at $42.31, down 1.21% on the day. Meyka rates the stock B+ with a buy suggestion and a 12-month price target of $54.73, implying 29% upside. The stock carries a PE ratio of 13.78 and analyst consensus of Buy, though technical indicators show no clear trend with RSI at 47.20.

Final Thoughts

Gold’s surge to $4,524 reflects reduced geopolitical risk, but the real story is portfolio rotation. With Meyka rating GOLD stock B+ and targeting $54.73 yearly, investors should watch whether the ceasefire holds and whether Yardeni’s $10,000 gold forecast gains traction.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.