Peter Schiff Says Investors Have Accepted Gold's Rally Is 'Here To Stay' As Silver Prices Soar To A Fresh High

• Silver futures maturing in March 2026 gained 4.6% to hover around $74.95 at the time of writing.
• Schiff said that investors avoided buying silver and platinum until now, as they expected gold prices to fall.
• However, prices of the yellow metal have also gained more than 8% over the past month, so the expected fall has not materialized.

Silver is finally catching up with gold after investors spent months looking for a reversal. Economist Peter Schiff on Thursday stated that investors have accepted that the rally in gold prices is “here to stay,” with silver prices soaring over the past month and outperforming the yellow metal’s gains.

Spot silver prices climbed to a new high of $75.15 per troy ounce, surging by 4.6% before paring some of the gains. Silver futures maturing in March 2026 gained 4.6% to hover around $74.95 at the time of writing.

Schiff said in a post on X that investors avoided buying silver and platinum until now, as they expected gold prices to fall. However, the cost of the yellow metal has also gained more than 8% over the past month, so the expected fall has not materialized.

“Silver and platinum are finally catching up to gold. Investors avoided buying those metals as they expected gold to fall. They’ve now accepted that gold’s rally is here to stay,” Schiff said.

Spot silver prices are up more than 40% over the past month. Year-to-date, silver prices are up more than 153%, while gold prices are up over 72%.

Similarly, platinum prices are up more than 165% year-to-date, with the metal hovering at $2,394 per troy ounce in the spot market at the time of writing.

Mining Stocks Could Be Next To Catch Up

Schiff added that investors have similarly avoided mining stocks as well this year, assuming gold prices would fall. However, with gold’s rally remaining intact, the economist says mining stocks are next in line for an “explosive catch-up run.”

Here are some of the mining stocks and their performance year-to-date:

Outlook For 2026

Analysts at ING Think stated in a recent note that gold’s main drivers are still in place. This includes central bank buying, Fed rate cuts, a weaker dollar, concerns about the Fed’s independence, and ETF buying.

“President Trump also recently said he has decided on his pick for the next Fed chair, a candidate that the market expects will push for lower interest rates. All of these factors will benefit gold. We see gold prices hitting more record highs in 2026,” the firm stated.

ING Think expects gold prices to average $4,325 per troy ounce at the end of 2026.

According to a CNBC report, Kelvin Wong, OANDA’s senior market analyst, is more optimistic. Wong expects gold to move toward $5,000 in the first half of 2026, while silver prices could rise to $90.

The SPDR Gold Shares ETF (GLD) was up 1.79% at the time of writing, while the iShares Gold Trust ETF (IAU) was up 1.8%. The GLD and IAU ETFs have both surged nearly 50% year-to-date.

The iShares Silver Trust ETF (SLV) was up 4.5% at the time of writing, while the abrdn Physical Silver Shares ETF (SIVR) was up 4.6%. The SLV and SIVR ETFs are both up 147% year-to-date.

Also See: Wall Street Turns Jolly Heading Into Christmas: S&P 500 Notches New Record As Santa Claus Rally Begins

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