Peter Schiff warned recently that rising gold and a falling dollar will shrink holders’ wealth. He cited the XAU/USD move above $5,000 and the DXY near 96.9, as stated.
“By the end of the year, holders of US dollar–denominated assets and cryptocurrencies, including Bitcoin, will be substantially poorer than they are today,” he wrote. “Trump may think the US has the hottest economy in the world, but financial markets prove it’s the coldest,” he added.
He pointed to rising demand for gold from central banks, institutional funds, and retail buyers. Commodities rallies in gold, silver, and copper have pressured the US dollar’s standing (Ed. note: the dollar has been moving lower for about a year).
He also warned that holders of dollar assets and Bitcoin could see losses if current trends continue. Traders who entered long dollar positions face increased risk as the currency’s influence weakens.
