币界网报道：According to the report of Bitcoin.Bitcoin, Peter Schiff, a long-time gold advocate 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 phase, and the recent breakthrough in the silver market is also true. 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, asserting that traditional safe-haven assets such as U.S. Treasuries are losing their appeal against the backdrop of fiscal instability and rising inflation concerns. "As U.S. Treasuries sell off and gold prices rise to near historical highs, it is clear that a new safe-haven asset has emerged in the market." He attributed the growth in gold demand to central banks actively replacing U.S. Treasury holdings with gold. Peter Schiff believes that these reallocations reflect a shift in confidence, which may accelerate as the market continues to deal with the impact of weak dollar fundamentals and growing deficits.