New Delhi, Jan. 26 -- As gold and silver smash through record levels, economist and gold advocate Peter Schiff has issued one of his strongest warnings yet, arguing that the surge in precious metals is not a sign of prosperity but a signal of deep economic stress building beneath the surface.

In a series of posts on X, Schiff highlighted that gold has jumped more than $100 to trade above $5,085 per ounce, while silver has climbed over $5 to trade beyond $108.25 per ounce, with both metals setting fresh all-time highs. According to Schiff, the move reflects far more than commodity momentum or speculative demand.

"Most people are clueless about what this means and are in for quite a shock," Schiff wrote, adding that those who understand m...