The Peter Schiff Show Podcast Gold Fell on War News. Here’s Why That’s Bullish
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Mar 6, 2026 Discussion of why gold and silver fell after the Iran war began and why that selloff might be a buying opportunity. Examination of oil’s sharp surge and limits of US production. Analysis of rising deficits, money printing, inflation risks and a weakening dollar. Political fallout and potential midterm impacts. Recommendations to consider mining stocks and overseas assets amid de-dollarization.
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Buy The Rumor Sell The Fact In Metals
- Gold and silver fell after the Iran attack because traders had already bought on the war rumor and then sold the news.
- Peter Schiff points to a buy-the-rumor, sell-the-fact reaction: gold peaked near $5,500 then retraced despite actual conflict starting.
Oil Surge Adds Real Pressure
- Oil spiked ~35% the week of the Iran attack, making gold's weakness puzzling in isolation.
- Schiff notes oil closed around $91 and was already up 65% year-to-date, adding real economic pressure.
War's Political Cost Could Flip Midterms
- The political fallout from starting the war may be severe and could cost Republicans heavily in midterms.
- Schiff says Republican support for the war contrasts with Democratic opposition and predicts voter backlash at the polls.