The precious metal sector is once again experiencing a mix of new activity, with gold and silver both posting steady gains. Silver has now climbed back to $80, with gold readily eyeing $5K as its next price target. In the middle of this, economist Peter Schiff has warned of a possible USD downturn, as precious metals continue to surge and spike, delivering new gains. Has the time come for the metal to take the center stage again?

Also Read: Gold Price to Hit $6K in Weeks? Here’s What Analysts Are Seeing

Peter Schiff: USD Has Lost All Iran War Gains

Peter Schiff, a renowned economist known for his staunch Bitcoin attitude, has once again struck a new, striking warning. In his latest tweet on X, Schiff shared the latest silver price move, adding how the metal has finally hit $80 after significant upheavals. Moreover, gold price is also gaining steady momentum amid the war crisis, eyeing the $5K mark.

Additionally, Schiff was quick to add how the US dollar has lost all its war gains and is now portraying a weakening stance, with the markets supporting metals as of late. The economist then sounded a major alarm, stating how investors should buy gold before it hits $5K, as metals have now once again started to show significant progress.

“Silver is back above $80. It won’t be long before gold is back above $5,000. The dollar has already lost all of its Iran war gains. Soon gold will recover all of its Iran War losses. Buy before it does.”

Schiff had earlier tweeted a similar concept before, stating how investors should sell their bitcoin and explore metals as their perfect revenue alternatives.

“Bitcoin is getting close to $75K again. That’s not much below Saylor’s cost basis for $MSTR. The U.S. dollar seems to be rolling over, and gold and silver may be about to start new legs up. If you have any Bitcoin, sell it now and buy gold and silver.”

Is Silver Really Ready To Explode?

The silver price is currently sitting at $79, inching closer to breaking above $80 once again. Per the latest forecast by Rashad Hajiyev, silver has rallied from $69 to $79 in a week, with predictions of the metal hitting $90 latest by next week.

“Silver rallied from $69.80 to $79.55 or nearly 15% over a single week. Another $10 jump only represents 12%—possible to happen within another week from now. $90 silver price is not that far anymore…”

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