Quick Read – Schiff calls gold’s $68 drop a buying opportunity as GLD is down 6% over one month but up 25% over the past year. – The Fed’s balance sheet expanded $11 billion under Warsh while M2 hit $22.8 trillion, leading Schiff to dismiss hawkish rate hikes as ineffective. -…
ter Schiff told listeners of The Peter Schiff Show Podcast that the sharp pullback in gold is an entry point, not an exit. He flagged a roughly $50 drop on Friday and another $18 at the time of recording, putting spot gold near $4,135 and silver just over $64 after sliding more than a dollar
The trigger, in his view, was incoming Fed Chair Kevin Warsh sounding hawkish on inflation. Schiff is not buying it. “I don’t believe any of this tough talk. It’s easy to talk tough.
The hard part is to walk the walk. It’s not going to happen,” he said. His takeaway for investors: “The fact that gold has sold off again is just an opportunity for people to buy more.