Schiff on Mining Network: Gold Up as Easy Credit Weigh on the Dollar

Last week Peter joined Peter Gadsdon at The Mining Network for a wide-ranging conversation on the drivers behind the gold market, the true nature of global trade, and the persistent headwinds facing the US economy. In his critique of the mainstream narrative, Peter argues that headlines and central bank policies—not real economic fundamentals—are moving markets, fueling a growing demand for gold among investors and central banks alike.

Peter wastes no time explaining the recent behavior of gold prices and how headlines have shaped market moves. He observes that selling in gold often coincides with optimism in tech stocks and renewed “risk-on” sentiment:

Well, it seems to me a lot of the trading recently is kind of news-driven headlines, not so much the fundamentals. And so I think the newer headlines are, ‘oh, maybe we’re going to get some kind of trade deals, maybe the trade war is going to be ending soon or the tariffs won’t be as high.’ Plus, you’ve got some good earnings now that came out today from Microsoft, from Meta. So you’re getting a big rally in tech stocks. And over recent months, there’s been a pretty strong negative correlation between gold and those tech stocks.