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Gold and silver under pressure due to Iran conflict, Peter Schiff argues
Peter Schiff, CEO and chief global strategist of Euro Pacific Capital, observes that gold has dropped below $4,200 and silver is nearing $64 as renewed conflict with Iran puts pressure on precious metals.
He believes that despite these declines, the bullish case for gold and silver has strengthened, arguing that an extended conflict could further support the precious metals market.
Schiff previously cautioned that Bitcoin could face a rapid decline below $20,000 if market complacency continued, after prices fell from the $50,000 level, according to a recent analysis. He has also attributed Bitcoin's earlier price surges to large-scale buying by firms such as Strategy, rather than to selling activity, as noted in a separate commentary. Schiff has been a frequent commentator on movements in both cryptocurrency and precious metals markets.
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