Gold is increasingly being viewed as the asset of last resort in a world drifting toward monetary instability. When confidence in currencies erodes, substitution stops mattering. In certain conditions, only gold functions as settlement, collateral, and protection, regardless of price. That reality is what drives long-term demand far more than short-term market moves.

Peter Schiff has reiterated that current price levels are not extreme when viewed through a crisis lens. With gold already above the low-$4,000 range, a move toward $5,000 or even $6,000 next year reflects simple continuation, not speculation. Silver, meanwhile, is steadily approaching the $100 level, a milestone that could arrive sooner than many expect. The real wildcard is the dollar itself. A genuine currency crisis would force rapid repricing across all monetary metals, pushing gold and silver far beyond today's forecasts. Until then, markets are merely adjusting to mounting pressure beneath the surface.

Gold stands apart because it does not decay, expire, or become obsolete. The metal in circulation today is the same as that used thousands of years ago, and that permanence is what gives it monetary gravity. Its price reflects not just present demand, but the cumulative value of all future uses. Most assets depreciate or disappear over time. Gold does neither, which is why it remains the ultimate settlement asset when trust breaks down.

Silver is now catching up after years of being historically cheap relative to gold, once trading near a 100-to-1 ratio. As private capital rotates out of crowded trades and into scarce physical markets, silver's tight supply and heavy short exposure are being exposed. Industrial demand adds pressure, while gold continues to be accumulated as a form of monetary insurance. If currencies continue to weaken, higher nominal prices will reflect declining purchasing power, not excess speculation. In a true dollar crisis, both metals would need to reprice far higher to restore balance.