The post “Gold Price Could Reach $5,000, While Bitcoin Stays Stuck” Says Peter Schiff appeared first on Coinpedia Fintech News
Global markets ended the week with mixed signals after U.S. labor figures showed a sharp slowdown in hiring. Unemployment rose to its highest level since 2021, fueling speculation that the Federal Reserve may have no choice but to cut interest rates later this month. This uncertainty boosted safe-haven demand, with gold stealing the spotlight.
Gold price today surged to a record high, jumping 1.5% to touch $3,600 an ounce before closing around $3,592.50 in New York. Silver also joined the rally, reinforcing momentum in precious metals.
The rally highlights how quickly investors are shifting toward safe havens amid concerns over Fed policy.
Economist Peter Schiff posted on X saying gold is stronger than Bitcoin. In his post, Schiff wrote:
“Gold just hit a new record high above $3,600 while Bitcoin remains stuck. Gold is doing exactly what it’s supposed to do ahead of Fed rate cuts. Since 2021, Bitcoin has lost 15% against gold. Anyone choosing Bitcoin picked the wrong horse.”
When challenged by Bitcoin supporters claiming BTC will outperform long term, Schiff doubled down:
“Gold could hit $5,000 as soon as next year. Bitcoin will never even cross the finish line.”
He once again made it clear that he sees gold as the best safe-haven.
Lower borrowing costs traditionally boost non-yielding assets like gold. Traders are increasingly betting on aggressive Fed easing, with political pressure adding fuel to the fire.
President Donald Trump has stepped up attacks on the Fed’s independence, vowing to soon gain majority influence over interest rate policy. Analysts warn that if Fed credibility is dented, gold could soar even higher. Goldman Sachs recently suggested bullion could climb toward $5,000 if investors shift even modestly from Treasuries to gold.
Gold’s meteoric rise isn’t just about interest rates it reflects years of mounting geopolitical, economic, and trade tensions. With both gold and silver more than doubling in the last three years, the surge shows investors are bracing for more turbulence ahead.
For miners and producers, record prices mean windfall profits. For markets, however, they highlight deepening concerns about stability in the U.S. economy.
Gold recently surged toward an all-time high, trading around $3,550 per ounce as of early trading sessions
Softer U.S. labor market data and dovish signals have raised market expectations for imminent Fed rate cuts, driving investors toward gold as a safe-haven asset.
Analysts like those at Goldman Sachs project potential targets between $3,600 and $3,900, with some forecasts extending to $4,000 by 2026 if uncertainty persists.
Gold benefits from central bank demand and political uncertainty, while Bitcoin’s correlation with risk assets and regulatory factors have made it more sensitive to market sentiment
