Gold and silver may experience new peaks
Economist and long-time advocate for precious metals, Peter Schiff, anticipates that gold and silver will reach new historical highs despite a correction at the end of the week. On Friday, prices for XAU and XAG dropped after rising more than 5% over the week. However, Schiff believes this is merely a pause in an ongoing bullish trend.
Schiff urged investors not to wait for the American markets to open on Monday and to pay attention to trading in Asia. He stated that the price increase could resume as early as the beginning of next week. “Buy your gold or silver now, before Asian markets open Sunday night. I'm expecting new record highs in both gold and silver early next week,” he wrote.
The market, however, is responding to these predictions with more caution. Trading data for metal-backed digital assets—Tether Gold (XAUt) and Kinesis Silver (KAG), which trade around the clock—indicates investor caution. Trading volumes over the weekend remain low, with prices only slightly exceeding spot prices for gold and silver.
Schiff's optimism extends to a longer horizon as well. He previously forecasted that gold could rise to $6,000 per ounce and silver to $100 by 2026. In this scenario, prices would increase by about 40% for gold and over 60% for silver from current levels. This is a projection the market has not fully priced in but is also unwilling to ignore.