Peter Schiff: Gold price could easily exceed $10,000 by the end of the decade.

Economist Peter Schiff said gold could easily surpass $10,000 per ounce by the end of the decade, more than double its current level of roughly $4,000. He argued that junior gold miners may offer greater upside than bullion itself, since major producers such as Newmont, Barrick and Agnico Eagle are cash-rich from selling gold and more likely to acquire companies with existing reserves than fund risky exploration, potentially triggering a wave of sector consolidation. Schiff noted that his Euro Pacific Gold Fund (EPGFX) holds a heavy allocation to junior miners to capture these takeover opportunities. He also forecast a possible stagflationary environment and said markets have not fully priced in the effect of wider deficits should Democrats win control of Congress after the midterm elections. Investors will be watching whether gold extends its rally toward his long-term target and whether large-cap miners begin announcing acquisitions of smaller peers.