War, Oil, and Inflation Are Setting Up Gold’s Next Surge

Gold falls as war drives oil higher, but Peter Schiff says stagflation, deficits, and a weaker dollar are setting up gold’s next major surge. Peter Schiff explains why the latest pullback in gold, silver, and mining stocks is not a sign that the bull market is over, but a temporary reaction to rising oil prices, higher bond yields, and a stronger dollar. He argues that markets are focusing too narrowly on delayed Fed rate cuts while missing the bigger picture: war-driven deficits, stubborn inflation, a weakening economy, and mounting pressure on the Federal Reserve to eventually monetize even more debt. He also breaks down soft GDP growth, rising PCE inflation, weakness in housing, and what he sees as the widening gap between Trump’s economic claims and the underlying data. Schiff’s core thesis is that stagflation, war spending, and long-term dollar weakness remain strongly bullish for gold and silver, while the current selloff is creating another buying opportunity.