Gold price prediction: Despite the recent decline in the yellow metal, veteran investor Peter Schiff believes that the yellow metal may be entering a far more powerful phase, one that could make April one of the strongest months for gold in decades and potentially set the stage for a move first above $5,000 and then towards $6,000.
In a series of posts on X, Schiff argued that gold’s sharp rebound from its March lows is not merely a reaction to war headlines, but a sign that investors are beginning to reposition away from the U.S. dollar and toward hard assets. His comments came as gold surged back above $4,700 and moved closer to the $4,800 mark in international markets.
“Gold is above $4,700. Since bottoming on March 23rd (my birthday), gold has rallied close to 15% in just over one week, finishing the quarter up about 7%. Despite today’s rise, March was the worst month for gold since 2008. As a result, April may be gold’s best month since 1980.” Schiff wrote on X.
Schiff pointed out that March was gold’s weakest month since 2008, making the current turnaround all the more dramatic. His core message was that the sharp recovery may not be a dead-cat bounce, but the beginning of a much bigger breakout.
He followed that up with another prediction, which sees gold at $6000 soon.
“Gold is almost $4,800, up 17% from the March 23 Schiff Birthday low. At this rate, it won’t be long before gold is back above $5K and then hitting new record highs above $6K. Don’t wait for the gold train to get that far out of the station. Buy some today.” he said in another post.
Why Schiff believes gold’s still has room to rally
Schiff’s argument is not centred only on the Middle East conflict, but on what he sees as a much deeper shift in investor behaviour. According to him, the rally reflects a growing belief that the longer the geopolitical and macro uncertainty persists, the stronger the case becomes for moving away from the U.S. dollar and into .
“It’s not because the war is over, but because investors are realizing that regardless of what Trump says or how the war progresses, it will accelerate the move out of dollars and into gold.” Schiff said in another post on X.
According to Schiff, the market is slowly beginning to price in the longer-term consequences of war — not just oil shocks or volatility, but also the possibility of higher debt, rising , economic slowdown, unemployment pressure, and financial instability. In that kind of environment, he believes gold stands to benefit far more than traditional financial assets.
Rather than being driven purely by fear, Schiff further noted that investors are now beginning to reassess the role of gold in a world shaped by prolonged war, fiscal stress, inflation risks and weakening confidence in paper currencies.
Schiff further argued that while an extended war and elevated crude oil prices are generally negative for U.S. stocks and bonds, those same conditions tend to strengthen the investment case for gold.
He also said investors would closely watch whether buyers step in during short-term pullbacks. In his view, temporary declines in gold may continue to attract fresh buying if the macro backdrop remains supportive.
Gold, Silver rates on Thursday
Gold prices eased from their recent two-week highs on Thursday after U.S. President said Washington would continue its military campaign in Iran over the coming weeks, triggering a sharp rise in crude oil prices and weakening hopes of near-term interest rate cuts.
In the international market, spot gold fell 2% to $4,664.39 per ounce as of 0439 GMT, snapping a four-session winning streak, while U.S. gold futures declined 2.5% to $4,691.10. Commodities markets are closed today on account of Good Friday.
The retreat came after bullion had climbed to its highest level since March 19, before Trump’s latest remarks.
In a prime-time address to the nation late Wednesday, Trump said the United States would launch aggressive strikes on Iran over the next two to three weeks and added that the country was nearing the “completion of its main strategic objectives” in the conflict.
Meanwhile, jumped more than 6% after U.S. President Donald Trump signalled continued strikes on Iran’s energy infrastructure, intensifying concerns over potential supply disruptions.
Gold had already been under pressure, declining 11% in March, marking its worst monthly performance since 2008, after the Iran conflict began on February 28. The sharp rise in oil prices has added to inflation worries, further complicating the U.S. Federal Reserve’s monetary policy outlook.
Market expectations for U.S. rate cuts remain subdued for most of 2026. The probability of a rate cut in December has dropped to just 12%, down from around 25% before Trump’s latest remarks.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.