Peter Schiff: Rising Yields Are the Most Bullish Signal for Gold Amid US Debt Worries

Economist Peter Schiff stated in an interview that climbing bond yields represent the strongest positive factor for gold and silver. He explained that collapsing bond prices will force investors to shift into precious metals as alternatives.

Schiff warned that Washington might restructure its debt and pay creditors only 50 cents on the dollar. He forecasts mortgage rates reaching 9% and a 30-50% nationwide drop in home prices.

Central banks keep adding gold, with China purchasing 23 tonnes, while Schiff expects gold to surge quickly to $5,000 during the next crisis. Silver trades around $60 per ounce.