Editor’s Note
The recent surge in gold and silver to record highs is a significant global financial event. As this article highlights, prominent analyst Peter Schiff interprets these levels not as a sign of economic strength, but as a potential indicator of underlying stress. Investors and observers should consider the broader economic context behind these market movements.
Gold and silver have recently broken all their records. This is big news not just for investors, but for the general public as well. American economist and gold expert Peter Schiff has warned that this surge is not a sign of prosperity but rather points to economic stress. According to Schiff, gold is now trading above $5,085 per ounce (approximately ₹4,55,000 per 10 grams), while silver has reached $108.25 (approximately ₹9,700 per ounce). He says this is not just market movement or speculation, but a sign that a hidden crisis in the global and US economy is about to surface.
Schiff has also raised questions about the strength of the US economy. He said that while former President Donald Trump considers America to have the world’s strongest economy, the financial markets are sending the opposite message. The dollar is weakening, and gold and silver are rising sharply, showing a lack of investor confidence in US monetary stability. The dollar’s fall to a record low against the Swiss franc, in particular, reinforces this point.
This rally in gold and silver is primarily due to increased interest from investors and central banks in safe-haven assets. On Monday, gold crossed ₹4,58,000 per 10 grams and silver reached ₹10,200 per ounce. Investors are buying it as a safe option because global political tensions, currency fluctuations, and policy uncertainty have made stocks and other markets volatile.
According to Peter Schiff, rising debt, persistent deficits, and central banks’ money creation policies weaken currencies and destabilize markets. He has long considered gold and silver as a hedge against inflation and economic instability. Schiff had also warned of the 2008 financial crisis in time. According to him, the dollar’s weakness, the rally in gold and silver, and the fall in bond prices together signal a global economic crisis.