Gold has started 2015 with a bang. The physical price is soaring in currencies around the world. Even the rising dollar hasn’t hampered gold, which is a very bullish signal. Gold stocks are also exploding. The largest gold ETF is up nearly 10% already. Yahoo! Finance interviewed Peter Schiff to see what he predicts for gold in the rest of 2015.

Highlights from Peter’s interview:

“[Gold] is even shinier if you happen to live in Europe. Gold prices are up about 200 euros an ounce in less than thirty days. As much as gold is going up here, it’s going up much faster in Canada, Australia, Japan. In fact, this year I believe gold prices are going to reach all-time record highs in just about every major currency except the US dollar. We may have to wait until 2016 before gold prices hit a record high in dollars. But if gold is this strong when the dollar is strong, imagine how much stronger gold is going to be when the dollar resumes its decline…

“I think gold is going to go up in all currencies, so right now it is rising faster in euros or some other currencies than it is in dollars, but it’s still rising in US dollars… Right now, America is losing the [currency] war. But I think we’re going to win it ultimately, because I think our currency is going to end up sinking against other currencies. But the only way to really defend yourself in a currency war is not to talk, but to take safety in gold. Last year, everybody was talking about how weak gold was. Gold had a very, very strong year in every currency but the dollar, where it was relatively flat. But now gold is moving up in all currencies, and I think it’s got a long way to go…

“I think [gold] is breaking out currently in terms of these other currencies. So I think now is a good time to buy. We’re still at about $1300, a little below in terms of US dollars. So we’re still well below the $1900 high. Last year, gold got off to a great start, then it fizzled by the end of the year. This year it’s off to an even bigger start than 2014. But one thing both years have in common is that everybody is still bearish. All the Wall Street strategists are all bearish on gold. They’re bearish on gold stocks.

I think instead of giving up the early rally like last year, I think we’re going to build on the gains throughout the year. I think the environment has really changed in gold’s favor. You’ve got so many more countries now cutting rates. Now you’ve got QE in Europe. The Swiss have cut their peg to the euro. The Swiss franc is now strong, and there’s a pretty good correlation historically between gold and the Swiss franc. A stronger Swiss franc is generally bullish for gold. What I think is going to be the most bullish for gold is when the Fed announces QE4. That’s going to be a big game changer that’s going to catch everybody by surprise.

The next big currency to be de-pegged might end up being the Chinese yuan and the Hong Kong dollar, because they might pull a Switzerland. When we do QE4, that might be too big for the Chinese to bear. I don’t know if they want to balloon their foreign exchange reserves anymore. So they may de-peg, and that would send shockwaves through the foreign exchange markets much more so than the Swiss-euro de-peg, and that could be very bullish for the price of gold.”