Economist Peter Schiff: This round of gold bull market has entered a stronger stage According to News.bitcoin, Peter Schiff, a long-term advocate for gold and economist, recently emphasized on the X platform that gold mining stocks are currently leading the gold market, indicating that this round of gold bull market has entered a stronger stage, and the recent breakthrough in the silver market is no exception. The Vaneck Gold Mining ETF (GDX) has reached its highest level since September 2012, surpassing spot gold. He believes that this development confirms that people's interest in the industry is increasing. Peter Schiff further elaborated on the broader macroeconomic background. He asserted that in the context of fiscal instability and rising inflation concerns, traditional safe haven assets such as US treasury bond bonds are losing their appeal. "With the selling of US treasury bond bonds, the price of gold rose to a near historical high. Obviously, there was a new safe haven asset in the market." He attributed the growth of gold demand to the central banks actively replacing the holdings of US treasury bond with gold. Peter Schiff believes that these reconfigurations reflect a shift in confidence, which may accelerate as the market continues to cope with the impact of weak US dollar fundamentals and increasing deficits.