Gold & Silver Bottom, Bitcoin Cracks as War and Oil Spike Hit Markets
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 27 March 2026
⏱️ 39 minutes
🧾️ Download transcript
Summary
Peter Schiff reviews a volatile week in markets, arguing gold and silver likely put in a bottom after briefly breaking prior lows and closing higher. He contrasts that with major stock indexes sliding deeper into correction territory, which he says could turn into a bear market if the war drags on. Schiff focuses on oil as the key driver, tying price spikes to bond selloffs, rising Treasury yields, and renewed inflation pressure.
He criticizes shifting public messaging around the conflict and argues the economic and political costs will force an eventual endgame driven more by markets than diplomacy. Schiff also challenges the “Bitcoin as digital gold” narrative, pointing to Bitcoin’s weakness versus gold and warning of a sharper breakdown if key levels fail.
He closes by framing larger deficits, money printing, and policy responses as structurally bullish for precious metals, while warning that higher yields and inflation could stress housing, stocks, and the dollar.
Chapters:
00:00 Gold and Silver Bottom
01:12 War Headlines Whipsaw
05:13 Fed Rates vs Inflation
05:59 Stocks Slide Into Correction
10:22 War Costs and Deficits
12:15 Bitcoin Safe Haven Myth
13:47 Oil Yields and Bonds
16:38 Bitcoin Mortgages Risk
20:05 Dollar Weakness and Politics
30:33 Buy Gold and Wrap Up
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Transcript
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| 0:00.0 | This is Peter Schiff for the Schiff Gold Friday Market Wrap, and it was an interesting week to put it mildly for the precious metals. |
| 0:14.2 | And I think there's a very good chance that they bottomed this week. |
| 0:18.1 | In fact, gold early Monday morning almost hit 4,100 even. I think it got to |
| 0:25.7 | around 4,120. Silver was down maybe at $63, $64. Gold and silver, though, both closed positive on the |
| 0:34.3 | week. So taking out the prior week's lows and then closing positive, |
| 0:39.2 | gold closed just under 4,500, finished up about $120 today. In fact, at one point, it was up about |
| 0:46.3 | $175 on Friday. And silver was up about $1.3 quarters, closed just below 70 cents. I think 69, 63. |
| 0:57.0 | We were above 70 cents earlier in the day. But both gold and silver, I think, put in bottoms. |
| 1:04.1 | You can't say that for the overall stock market, which I think has put in a top and is poised to move significantly lower. |
| 1:12.5 | What is driving this train right now is oil and the price of oil. And of course, that is being |
| 1:18.1 | driven by the war. And we had a lot of volatility related to Donald Trump's posts about the war on Saturday morning and again on Monday morning. |
| 1:31.5 | On Saturday morning, he basically posted an ultimaton to the Iranians that if they didn't open up the straits within 48 hours, |
| 1:41.1 | they were going to have all of their power plants bombed. |
| 1:45.5 | And so they would basically be in the dark. It was going to be lights out for the Iranians. And then instead of following through |
| 1:54.6 | with that threat, early Monday morning, as Marcus were coming under pressure because of the threat, |
| 2:02.7 | Trump all of a sudden posted everything is great. |
| 2:05.6 | Five-day pause. |
| 2:06.7 | We're having very productive conversations with the Iranians and it's looking good. |
| 2:14.3 | And so we don't have to bomb them. |
| 2:16.8 | And then the markets rallied. Now, of course, |
| 2:19.7 | none of this was probably true. I don't know if the ultimatum was real. And I don't think the peace |
| 2:26.9 | talks were real. Now, the Iranians denied them, but I don't necessarily believe what the |
... |
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