I don't think gold's going below 4,300. So if you're buying it now at 4500, I think there's minimal downside in gold at 4500, right? Silver, a lot more volatility, which to me makes sense given the magnitude of the breakout, right? You know, we blew through 50. I mean, we basically paused there for a couple of weeks maybe. And I was forecasting on this and on my main podcast that once silver broke above $50, uh, it was going to be a moonshot and that 50 would be support. Well, 50


was only support briefly. I believe support is now 70. I don't think we're going down to 50 at all. The recent performance of precious metals signals a clear shift in investor behavior with gold and silver now moving in tandem rather than diverging as they often have in previous cycles. Gold delivered a strong and sustained advance reinforcing its role as a monetary anchor during periods of fiscal imbalance and currency erosion. Silver, meanwhile, transitioned from a lagard into a leader as the cycle matured,


accelerating sharply once confidence in broader financial stability began to weaken. Peter Schiff has long argued that this sequence is typical of major precious metals bull markets. Gold tends to move first, acting as an early warning signal of monetary stress, while silver follows later with far greater intensity once participation broadens. As this cycle progressed, the rally expanded beyond simple safe haven buying, drawing strength from both rising investment demand and mounting structural constraints in supply. Gold's


steady ascent reflects a repricing of long-term monetary risk. While silver's volatility highlights just how thin the margin has become between supply and demand, Schiff has emphasized that silver's dual role as both an industrial necessity and a monetary hedge makes it especially sensitive when economic uncertainty overlaps with physical scarcity. This helps explain why silver tends to move in powerful waves rather than smooth trends, particularly when paper pricing mechanisms struggle to


reflect real world conditions. What stands out now is that the advance is no longer confined to the metals themselves. Mining equities have begun to respond to the improved economics created by higher metal prices, relatively stable costs, and expanding margins. Schiff views this as an important confirmation, noting that equity markets often lag until profitability becomes undeniable. Despite recent gains, he maintains that valuations across the sector still fail to fully reflect the earnings impact of


sustained strength in gold and silver. In that context, the current move appears less like a speculative surge and more like a structural revaluation driven by monetary reality rather than short-term enthusiasm. With that in mind, we now turn to clips from Peter Schiff's interview. >> Gold closed this week on a positive note, up just over $30 an ounce. We closed at 4,58, so above 4500. Silver didn't quite close above 80, although it traded above 80 again this week. It traded above 8250, but it was


up almost $3 on the day, closing just below 80. I think it was 79.84. But percentage-wise, gold is already up 4.6% this year. This is only the 10th of the month, 10 days into the year. Of course, most of them weren't even trading days because of the holidays and the weekends, but you're up 4.6% already. Silver is up about 12 and a half% so far in 2026. So, just picking up where last year left off. Uh, the precious metals bull market uh continues. Platinum again up about the same amount I think as silver. Also look


at what happened with the mining stocks because another knock on the gold bull market was the lack of confirmation in the mining stocks because the mining stocks were lagging. They're supposed to be leading. Mining stocks are supposed to be stronger than the metal in a bull market. That wasn't the case. But of course, that's why I was pounding the table, especially early last year. In fact, I put out a special report, I think in April, the best way to buy gold, and that was buying gold stocks


because gold stocks had barely gone up on the year, even though gold was above $3,000 an ounce. Well, the GDX, which is a gold stock index, finished the year up 153%. and the GDXJ, which has some uh, you know, midcaps, more midcaps. It's called juniors, but they're not really juniors. They're just a little bit smaller than the GDX. That index was up 166% uh, last year and off to a strong start again this year. The GDX is up 8% so far in 2026. and the GDXJ not that much farther behind up about 7.2%


so far on the year but these stocks are now outperforming the metal itself which means now everything looks like a bull market. You can't say well you're not seeing a confirmation in silver because we are not seeing it confirmed by the mining stocks. what we have. And in fact, one thing about the mining stocks is that even though they've outperformed the metal, they didn't outperform it nearly enough given how much gold and silver prices have risen and how great an impact that's going to have on earnings


of these mining companies. Um, stocks are still very cheap and that's still to me a a positive contrarian indicator in that the investing public still doesn't appreciate how cheap these gold mining stocks are and silver mining stocks are. They still don't get the significance of the bull market. they're still distracted, you know, by the tech bubble or the crypto bubble and they're not really paying attention to this opportunity, which is why investors should still be buying uh not only


physical gold and silver at these prices, but especially the mining stocks. And you know, the gold mining stocks, not only are they going to make a lot more money because the price of gold is going up, but look at oil prices. oil prices are below $60 a barrel. They're about $58 a barrel. That is the the the most significant cost in gold mining is energy and that's going down. Now, I don't think oil prices are going to stay down, but they're down now. So, this is great uh for the


profits of the gold miners, but also silver going up is going to have a major impact on gold mining companies because pretty much all the gold mining companies mine some silver. It's a byproduct of gold. And the way they report it, it's not earnings from silver mining, but the money they get from their silver, they use that to offset the cost of mining the gold. So that means not only are mining costs going down because of low energy prices, but because they're getting so much from their silver byproduct, that is


dramatically reducing the cost of their gold. and it is going to be reflected in their earnings. So, all the gold stocks are going to benefit from higher silver prices even though people aren't buying them because they're silver miners. They still mine a lot of silver and it makes a big difference on their net costs of mining gold. And of course, there are companies that just mine silver and they were the star performers of 2025. But again, given how cheap they were when the year began, they're still cheap


now despite tripling and quadrupling on the year. So even though we've seen this rally, you want to buy gold, you want to buy silver. Gold, I don't think there's very much downside risk at all. I don't think gold's going below 4,300. So if you're buying it now at 4500, I think there's minimal downside in gold at 4500. Subscribe button and stay updated.