Peter Schiff: Gold’s Breakout Is Just Getting Started

On Friday’s episode of The Peter Schiff Show, Peter examines gold’s recent push through $4,000 and what it signals about inflation, the Fed, and market psychology. He walks through how the financial press misreads precious-metals flows, parses the latest CPI (Consumer Price Index) data, and connects rising prices to policy failures — then calls out another example of government overreach when the state starts acting like an investor.

He begins by noting that the $4,000 level failed to act as the kind of psychological ceiling many expected, which to him is a meaningful sign of market conviction:

It’s not like we ran into resistance at $4,000, which is what a lot of people would expect at a big round number like that. I mean, typically, psychologically, you get resistance. We had it at $2,000 gold. We had it at $3,000 gold, though not quite as much as we had at $2,000. But a lot of people would have expected that $4,000 to be some type of resistance that could cause a pullback.