Gold and Silver Prices Surge! Economist Peter Schiff Predicts Further Gains

TradingKey – As Bitcoin remains lackluster, gold and silver have exploded higher, and economist Peter Schiff anticipates their paths will continue to diverge sharply.

On Monday, September 1, during Asian trading hours, precious metals extended their winning streak. Spot gold (XAU/USD) notched a fifth consecutive day of gains. As of this writing, gold has climbed over 1% intraday to $2,482, edging closer to the April 22 record high of $3,500.

Gold price chart – Source: TradingView

Meanwhile, silver (XAG/USD) blasted through the $40 mark, setting a new all-time high. Silver jumped 1.96% today, peaking at $40.54 per ounce and currently trading around $40.47.

Silver price chart – Source: TradingView

By contrast, Bitcoin (BTC) continued to weaken, slipping nearly 1% on the day and trading below $110,000 at $107,831. The striking divergence between Bitcoin and the precious metals has grabbed investors’ attention. Economist Peter Schiff commented:

“When U.S. markets open Tuesday, these two precious metals could rally further, while Bitcoin may head in the opposite direction.”