Peter Schiff: The Strongest Gold Bull Market in History Is Here

Gold is in its strongest bull market ever, yet investor sentiment remains weak, Peter Schiff warns, arguing gold mining stocks are undervalued despite the metal’s historic surge.

Peter Schiff: Investors Are Ignoring the Strongest Gold Bull Market in History

Economist and gold advocate Peter Schiff highlighted the unprecedented strength of the gold market on social media platform X on March 20. He stated:

This is the strongest gold bull market in history, yet it has the weakest sentiment in history.

Despite gold surpassing $3,000 per ounce, Schiff pointed out that investors remain skeptical, leading to an unexpected decline in gold mining stocks. He dismissed concerns over minor price fluctuations, arguing that a small drop, such as from $3,035 to $3,028, should not justify a selloff in mining stocks, which he believes remain undervalued even if gold were to fall significantly.

Schiff also addressed gold’s resilience in the face of a strong U.S. dollar and suggested that the currency is likely to weaken further:

Gold has been rising despite the dollar’s strength. Plus the U.S. dollar is far more likely to weaken.

The economist emphasized that as long as gold stays near $3,000, gold mining stocks should outperform Wall Street’s earnings expectations. According to Schiff, investors are failing to recognize the potential profitability of these assets, making them a compelling opportunity despite market hesitancy.

Beyond gold’s immediate price movement, Schiff analyzed the broader financial landscape, arguing that traditional stock market metrics fail to account for inflation. He stated:

Pricing stocks in real money adjusts prices for actual inflation. Since Dec. 31, 2000, the S&P is down 60% priced in gold. It’s a historic bear market.

Schiff’s analysis suggests that when measured against gold, stock market performance is significantly weaker than it appears in dollar terms. His remarks reinforce his long-standing view that gold is a superior store of value, particularly in times of economic uncertainty.