The price of gold has increased by 26% this year and is on track to record its best performance since 1979.  Peter Schiff, a famous economist, has announced that the price of gold will increase to more than $540 in 2024, which is the largest dollar growth in history.  This price increase coincided with interest rate cuts by the Federal Reserve and an increase in the US national debt.  Despite gold's strong performance, Schiff believes investors haven't fully recognized the bull market yet, as shares of gold mining companies are up just 31%.  He attributes this trend to current economic conditions, including low interest rates and inflationary concerns.

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