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Peter Schiff: Gold trades above $3,250 after weak July U.S. jobs report

Peter Schiff: Gold trades above $3,250 after weak July U.S. jobs report
Gold, silver jump after U.S. jobs data

Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, highlights a strong breakout in precious metals, with gold rising $180 to trade above $3,250 for the first time since June and silver increasing nearly $3 to surpass $62.25.

Schiff attributes this sharp move to a weak July ADP U.S. jobs report, suggesting it served as a catalyst for this morning’s gains in the gold and silver markets.

Schiff recently pointed out that the bond market is showing signs of stress, warning that stocks, housing, and crypto could be affected next in his bond market breakdown analysis. He has also highlighted the weakness of select stocks such as SPCX, noting its close just above $115, nearly 20% below its IPO price, in a separate report on SPCX performance. These observations reflect Schiff’s ongoing focus on potential risk signals in global financial markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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