Gold bull Peter Schiff urges investors to buy gold and silver as metals slide alongside U.S. stocks, arguing this offers a better buying opportunity as inflation picks up again. Gold closed at $3,996, down about 1% on the day and about 29% below its January record of $5,608, while Schiff called silver “a great buy below $54.” He cited September producer prices rising 1.3%, the largest monthly gain in over four years and driven largely by energy, and said economic growth in the first two years of Trump’s second term trailed Biden’s last two. Schiff warned high borrowing costs, with the average 30-year mortgage rate at 7.32%, are setting up a crisis worse than 2008. CME FedWatch futures priced a 68.9% chance of another 25 bps hike in December.
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Related tickers and likely impact
XAU/USD
• NeutralRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/23/2026 | 3,995.78 |
| Change that session | -0.72% |
PAXG/USDT
• NeutralPAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/23/2026 | 4,003.77 |
| Change that session | -0.80% |
XAUT/USDT
• NeutralTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/23/2026 | 3,994.18 |
| Change that session | -0.89% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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