American investor Peter Schiff foresees US$10K gold, US$200 silver

His predictions come amid a bullish long-term consensus

Rowan Dunne

Published

6 hours ago

Despite recent price dips, certain market observers and stakeholders maintain a highly bullish stance on precious metals. They view current losses as temporary setbacks in a powerful long-term uptrend driven by structural economic forces.

Peter Schiff stands out as one of the most vocal proponents of this view. In an interview with MINING.COM this week, the veteran dollar critic and gold advocate predicted silver could reach US$200 per ounce and gold US$10,000. He argues that the United States Federal Reserve remains trapped by soaring national debt nearing US$40 trillion and annual deficits approaching US$3 trillion.

Policymakers, he says, will choose higher inflation to reduce the real weight of the debt instead of allowing a painful stock market crash, falling house prices or tough spending cuts in Washington.

Schiff sees the recent silver pullback as an attractive buying opportunity, noting that the old resistance level around US$50 now serves as support in what he calls a new bull market. His outlook stems from the belief that the American dollar will continue to lose purchasing power and reserve currency dominance as central banks diversify into gold.

Schiff recently urged investors to sell their Bitcoin holdings and buy gold and silver stocks instead. He views precious metals equities as undervalued because many analysts still treat elevated metal prices as temporary rather than the new normal.

Near-term caution meets long-term optimism

Despite near-term bearish forecasts from banks such as Citigroup Inc (NYSE: C) (ETR: TRVC) and Oversea-Chinese Banking Corporation Ltd (OTCMKTS: OVCHF) (FRA: OCBA), the general consensus among analysts and leading financial firms aligns closely with Schiff’s bullish long-term outlook.

Major players like Goldman Sachs Group Inc (NYSE: GS), JPMorgan Chase & Co (NYSE: JPM) and Bank of America Corp (NYSE: BAC) (FRA: NCB) project robust gains for gold and silver through the remainder of 2026, into 2027 and beyond. These banks foresee gold hitting up to US$6,000 per ounce by the end of the year with more modest gains anticipated for silver. They point to sustained central bank buying; strong industrial demand for silver in solar, electric vehicles and electronics; and gold’s enduring role as a safe haven asset and inflation hedge.

This agreement among large-scale institutions shows they believe any short-term price drops are just a normal pause in a long-running bull market.

Outlook brings enthusiasm for miners

This widespread optimism generates excitement for leading gold and silver producers as well as promising junior explorers.

Established majors such as Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM), Agnico Eagle Mines Ltd (TSE: AEM) (NYSE: AEM) (FRA: AE9) and Pan American Silver Corp (TSE: PAAS) (NYSE: PAAS) (FRA: PA2) stand to benefit from higher realised prices and superior margins.

Meanwhile, leading precious metals juniors like Chilean-focused San Lorenzo Gold Corp (CVE: SLG) (OTCMKTS: SNLGF), Latin American operator Xali Gold Corp (CVE: XGC) (OTCMKTS: CGDXF) (FRA: I970) and NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) pursue exciting projects with ample incentive. These prospectors have seen considerable share price gains in recent months.