Gold at $4600, Dollar Crashing Below 98, Trump’s 25% EU Car Tariffs & Bitcoin vs. Saylor
From SchiffGold Friday Gold Wrap Podcast by SchiffGold
May 6, 2026 · 33 min
About this episode
Peter Schiff discusses the current state of gold, the dollar, and the implications of recent economic trends.
The dollar erased every war gain, oil's back above $102, yields are at 4.5%, and mining stocks just gave you the buying opportunity of the year. Gold settled the week at $4,612 with silver at $75.33, both drifting lower as investor attention shifted to record-high stock indexes. Mining stocks took the hardest hit with GDX down 6.25% — a buying opportunity Peter Schiff says is being created by the same complacency that preceded every major gold breakout. The dollar index fell to 97.7, erasing every penny gained since the Iran war began — a historically weak bounce for a supposed safe haven currency. Oil climbed back above $102 while 30-year Treasury yields touched 4.5%, recreating the exact conditions that forced Trump to reverse Liberation Day tariffs. Schiff revisits Powell's claim of 40 years of controlled inflation, breaking it down decade by decade to show average CPI of 5.5% in the '80s, 3% in the '90s, and 2.6% in the 2000s — with only the post-crisis 2010s near the 2% target. He also highlights the Bitcoin conference where last year's darling Nakamoto is down 99% between conferences, while this year's pitch of "digital credit" is even worse than subprime.
People in this episode
Host: Peter Schiff
Topics covered
- gold prices
- dollar index
- mining stocks
- inflation
- oil prices
- Bitcoin
Keywords
- gold
- dollar
- mining stocks
- inflation
- oil
- Bitcoin
- Trump tariffs
Mentioned in this episode
Organizations: Bitcoin, GDX, Nakamoto, Powell
Places: Iran
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