Peter Schiff, former Twitter CEO, has warned that a trend that could send gold soaring due to the ongoing war and higher oil prices, which he believes are bullish for gold due to a chain reaction from battlefield to balance sheet to bullion. Schiff argues that war, increased debt, rising inflation, recession, higher unemployment, and a housing and financial crisis are beneficial for gold. He also points out that politicians lean on inflation and easier money instead of painful cuts, leading to higher inflation and financial strain sending investors towards hard assets. Schiff has been vocal about this trend for years, but Wall Street is slowly meeting him halfway. Meanwhile, Bank of America reports that gold prices are on a "trend" as inflation and unemployment concerns rise together, and that the metal surged 58% in 2025, surpassing both the S&P 500 and the Nasdaq.