Video News/In Focus with Jeremy Szafron

(Kitco News) - The surge in bond yields that has pressured gold is actually the most bullish signal the metal could get, and gold is the only real hedge against collapsing government debt, according to Peter Schiff, chief market strategist at Euro Pacific Asset Management. Speaking with Kitco News, Schiff said traders are misreading the sell-off, treating rising yields as bearish for gold when "it's the most bullish thing that could happen to gold and silver," because climbing yields mean bond prices are collapsing and investors are losing faith in the governments that issue the debt. He described the 40-year bull market in bonds as over, now six years into a "secular bear market" that could last 20 years, and warned home prices could fall 30% to 50% as mortgage rates head toward 9%. Schiff argued Washington will ultimately resolve its debt through either massive inflation or a restructuring, a "stealth default" in which bondholders might receive just "50 cents on the dollar." In that world, he said, "gold is the only hedge against Treasuries," and gold and silver will be "the last safe haven standing." SPONSORED BY KALSHI Trade the first CFTC-regulated gold and silver perpetuals in the U.S., 24/7, with no expiration date. Exclusive Kitco offer: trade $50 and get $25 free with code KT2026. (https://kalshi.com/p/KT2026) Availability varies by jurisdiction. Not available in Canada. Offer terms and eligibility apply.