Peter Schiff Says ‘Buy The Dip’ in Gold And Silver Amid Iran War Selloff— ‘Take Advantage Of Their…’
The markets are mispricing the impact of escalating geopolitical tensions and rising macro risks, according to Peter Schiff, who suggests buying the dip in precious metals.
In a Monday post on X, Schiff said, “gold is down over $100 and silver is down over $2.50” as conflict with Iran intensifies, oil prices surge, bond yields climb, and equities weaken.
He framed the selloff as a disconnect, telling investors to “take advantage of their ignorance and buy the dip.”
As war with Iran escalates, oil and bond yields surge, and stocks fall, gold is down over $100 and silver is down over $2.50 because traders don’t realize how bullish these events are for precious metals. Take advantage of their ignorance and buy the dip. https://t.co/GGNU9tT9EQ
— Peter Schiff (@PeterSchiff) May 4, 2026
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Gold, Silver Fall Despite “Safe Haven” Status
Gold and silver, traditionally seen as safe-haven assets, have come under pressure in recent sessions as rising government bond yields reduce the appeal of non-yielding assets. The yield on 30-year U.S. Treasury bonds has climbed above the key 5% threshold, levels not seen in nearly two decades.
Rising Middle East tensions have lifted oil prices, stoking supply and inflation concerns. In turn, expectations of prolonged higher interest rates have pushed bond yields up, creating short-term pressure on gold and silver.
A stronger U.S. dollar has added further headwinds, making metals more expensive for global buyers. The ICE Dollar Index rose to 98.48 from 97.61 since the war began in late February.
Spot gold price has dropped to around $4,554 from $5,170.03 since the war erupted, while spot silver price is down to near $73.75 from $93.82.
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Bullish Setup for Precious Metals
Schiff argues that traders are overlooking the longer-term implications of the current environment, citing that “traders don’t realize how bullish these events are for precious metals.”
The decline in gold and silver came despite a broader risk-off trading, where geopolitical uncertainty would typically support bullion prices.
The economist maintains that the current pullback is not a sign of weakness, but rather an opportunity for investors who anticipate a shift in monetary conditions.
Image via Shutterstock
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