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Peter Schiff, the loudest voice against Bitcoin (BTC) since the early days, is suddenly sounding like a man watching his own dream play out as gold rips through levels nobody thought would come this fast.
In just one week, the metal went from $4,000 to $4,200, and Schiff is now openly calling for $5,000 by Thanksgiving and $6,000 by Christmas, with silver tagging along north of $75. He dresses it up by telling people to buy one-ounce rounds as stocking stuffers, but the message is not about gifts — it is about what the markets are really saying.
Gold futures above $4,200 is not just a chart milestone; it is a 60% gain in 2025, and it makes gold and silver four times stronger than the S&P 500, and that is during one of the S&P’s best bull runs ever. When the safe havens outperform risky assets in the middle of a bull market on those same risky assets, it is not about hedging, but the floor giving way under fiat currencies.
Why is gold rallying?
The drivers are not hard to list: deficit spending exploding, central banks cutting into stagflation and a record wave of AI capital expenditure that has already turned into an arms race between the U.S. and China.
Schiff has always trashed Bitcoin, calling it a bubble and a distraction, but his $6,000 gold target lands right as Bitcoin is fighting to stay above $110,000, and the contrast is obvious — one asset born as a hedge against currency debasement is stalling under volatility, while the other, the so-called relic, is rallying harder than almost anything else on the markets.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team