Peter Schiff Calls Gold's $68 Drop a Buying Opportunity

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Peter Schiff told listeners of The Peter Schiff Show Podcast that gold's sharp pullback is an entry point, not an exit, after spot gold fell roughly $68 to near $4,135 and silver slid to just over $64. He dismissed hawkish rhetoric from incoming Fed Chair Kevin Warsh as empty talk, arguing the Fed is structurally boxed in and cannot follow through on tightening. Schiff pointed to the Fed's balance sheet expanding by another $11 billion in the prior week, M2 money supply hitting $22.80 trillion in April 2026, and core PCE climbing every month over the past year as evidence that any rate hikes would be ineffective. The SPDR Gold Shares ETF is down nearly 6% over the past month but up about 25% over the past year, and Schiff treats every pullback as a discount rather than a top.

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