Precious metals have surged as silver climbs back to $80 and gold eyes $5,000. Economist Peter Schiff has warned the U.S. dollar has lost all gains made during the Iran war crisis, advocating for investors to buy gold. Analyst Rashad Hajiyev noted silver rallied nearly 15% in a week, with $90 being a near-term possibility.
The precious metal sector is experiencing renewed activity with steady gains in gold and silver. Silver has climbed back to $80, while gold is eyeing $5,000 as its next price target.
Economist Peter Schiff issued a warning about a possible U.S. dollar downturn as metals surge. He stated the dollar has already lost all of its Iran war gains.
“Silver is back above $80. It won’t be long before gold is back above $5,000,” Schiff said. He advised investors to buy gold before it recovers all its Iran war losses.
In a previous post, Schiff had recommended selling Bitcoin to buy gold and silver. He argued that the U.S. dollar seemed to be rolling over.
“If you have any Bitcoin, sell it now and buy gold and silver,” he wrote. This advice came as Bitcoin approached $75,000 again.
Analyst Rashad Hajiyev observed that silver rallied from $69.80 to $79.55 in a single week. He noted this represented a gain of nearly 15%.
“Another $10 jump only represents 12%—possible to happen within another week from now,” Hajiyev said. This projection suggests a $90 silver price may not be far away.
