Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
Following gold’s push through the $3,000/oz barrier, more and more experts are raising their price targets for the future. Peter Schiff, a financial commentator and long-time gold advocate, is the latest to join the club. In late March, he boldly declared that gold was on track to hit “$4,000 and beyond.” With sticky inflation, central bank buying, and a weakening dollar buoying the yellow metal’s rise, Schiff thinks it’s the “perfect time to invest” in gold.
Gold’s “Monumental Moment”
On March 17, when gold leapt over the $3,000/oz hurdle for the first time, Peter Schiff took to Instagram to highlight the importance of the milestone.
“Today marks a monumental moment in gold history as the spot price closes above $3,000 an ounce. Despite the media’s silence, this development is significant.”
Since the start of 2024, gold has climbed over 33% from peak to trough. Over the past 12 months, the yellow metal has soared by around $1,000/oz, reflecting sustained safe-haven demand amid economic upheaval.
Zooming out even further, gold has almost doubled since 2022 and tripled in the past decade.
Already, the $3,000/oz benchmark has been left in the metal’s rearview mirror as prices accelerate to $3,500/oz.
All in all, Schiff believes “now is the perfect time to invest” in gold as it’s “expected to rise to $4,000 and beyond.”
A Wake-Up Call for Investors
Gold’s ongoing record-shattering boom is a wake-up call for investors, according to Schiff. Instead of shying away from higher prices, he says that “retail investors have a unique opportunity to capitalize.”
The two main drivers of gold’s growth, in Schiff’s eyes, are only expected to ramp up:
Inflation: Stubborn inflation is keeping the Federal Reserve from making conclusive fiscal decisions. This leaves the entire economy in limbo, reducing productivity and opportunity. Schiff believes inflation has bottomed out and will only move higher in the future, driving more people to safe-haven assets like gold.
Central Banks: Governments have purchased more than 1,000 tons of gold for the past three years straight, propping up a huge source of physical demand. Schiff describes the central banks as “insiders in the fiat monetary system” that “have been dumping their dollars to buy gold.” This ongoing de-dollarization trend has been a boon to gold and a burden to the dollar.
Dollar Devalues, Gold Grows
Although experts are pointing to $4,000/oz, this milestone is yet another psychological barrier. It has no actual bearing on price action.
As Peter Schiff explained in October 2024, “If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing — it’s the value of the dollar that’s decreasing.”
Generally, the dollar and gold have an inverse relationship, meaning one falls as the other rises in value. However, this isn’t isolated behavior; it’s a deep-rooted trend that’s been unraveling from the abandonment of the gold standard.
Since 1971, the dollar’s purchasing power has diminished by 87%. Conversely, gold’s spot price has skyrocketed by more than 8,600%.
Gold Price Too Shiny? “Consider Silver”
Gold’s current price point at all-time highs might give more budget-conscious or risk-averse investors pause. Peter Schiff offers a straightforward solution: “Consider silver.” In the same Instagram post, he pointed to silver’s lower price point and bullish outlook
The shiny metal isn’t just 100x cheaper per ounce than gold; it’s also well below all-time highs, suggesting plenty of room to run. The gold-to-silver ratio, which tracks how many ounces of silver it takes to buy an ounce of gold, remains near record highs–yet another sign that silver is “cheap” relative to gold.
👉 Related Read: Silver Presents a Big Buying Opportunity to Investors