Peter Schiff predicts gold could skyrocket to $100,000. Here’s why — and how you can capitalize
One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.
SEATTLE (Scrap Monster): In 2024, Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management, predicted that the price of gold's surging might be just be the beginning of its rally.
Since then, the price of gold surged by 46%, with the commodity climbing from $2652 per ounce in October 2024 to $3995 a year later, it appears his prediction was right.
During an interview with “The Lead-Lag Report,' Schiff offered an ambitious forecast for the precious metal.
“If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or to $100,000,” he stated.
At today’s prices, a climb to $100,000 would represent an impressive upside of over 3,700%.
And there could be even more room for growth, as Schiff emphasized, “There’s no limit because, cause again, gold’s not changing — all we’re doing is decreasing the value of the dollar.”
Schiff is the founder and chairman of precious metals dealer SchiffGold and serves as an investor and advisor at Goldmoney, a company that offers precious metals trading services, including storage solutions.
US dollar poised to ‘lose so much value’
Schiff’s bold forecast for gold’s future price is rooted in his long-held view on the risks of excessive money printing and inflation.
“I think the potential [for gold] is much higher because we’re just going to print so much money. We’re going to have so much inflation that the dollar is going to lose so much value that you’re really going to need a lot of dollars to buy gold,” he explained.
Gold has long been considered a popular hedge against inflation. Unlike fiat currency, the yellow metal can’t be printed in unlimited quantities by central banks. And with its value untethered to any specific currency or economy, gold often acts as a 'safe haven' asset, especially during periods of economic or geopolitical uncertainty.
One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.
Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.
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