Real Rates Are Collapsing and Nobody Sees It - Gold's Biggest Setup Ever

About this episode

Peter Schiff discusses the current state of the gold market amidst rising inflation and interest rates.

PPI hit 6%, yields hit 19-year highs, and gold dropped 4%. Traders are selling on the most bullish data gold has ever seen. Gold fell 4% and silver dropped 10.5% on the week despite the most bullish inflation data in years. Peter Schiff explains why traders have it exactly backwards: April PPI surged 1.4% month-over-month — nearly the entire 2% annual target in a single month — pushing producer prices to 6% year-over-year. Core PPI tripled expectations at 1.0%, annualizing to 12.5%. Import prices jumped 1.9% on the month, proving Americans are paying every cent of the tariffs, while export prices exploded 3.3%, signaling internal US inflation pressure across the board. The 30-year Treasury yield closed at 5.12%, a 19-year high, while the 10-year hit 4.59%. Algorithms are selling gold because they see rising yields as bearish — but Schiff argues they're completely missing that real interest rates are collapsing because inflation is rising faster than nominal rates. The Fed's easing bias in the face of 6% PPI is itself a form of monetary easing. Oil closed at $105 with no end to the Iran war in sight, Bitcoin is down 12.5% year-to-date, and the AI/crypto bubble is one bond market…

People in this episode

Host: Peter Schiff

Topics covered

• inflation
• gold market
• real interest rates
• PPI
• Treasury yields
• trading strategies

Keywords

• PPI
• gold
• silver
• inflation
• Treasury yield
• traders
• monetary easing

Mentioned in this episode

Organizations: Fed

Products: gold, silver, Bitcoin

Places: Iran

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