Peter Schiff warns that the S&P 500’s rally is a fantasy, down 57% when measured in “real currency” – SPDR S&P 500 (ARCA: SPY)

The famous economist said Peter Schiffhe pointed out that gold’s outstanding performance is evidence of the real situation in the market.

what happened“The S&P’s record is not high if it comes at the cost of real money,” Schiff wrote on Tuesday on Tuesday, highlighting that the index’s value at gold has dropped 57% since 2000. additional.

The data supports Schiff’s analysis. And the S&P 500 index, tracking SPDR S&P 500 spyup 325.29% from 1,441.25 points in January 2000, and to the current 6,129.58 points, Gold’s earnings exceeded 957.45% from $277.08 to more than $2,930 per ounce on Tuesday.

Schiff highlighted a new record high for Gold, surpassing $2,940 for the first time, indicating that “$3,000 is obviously a high possibility this week.” He criticized the Fed and mainstream financial circles for neglecting the rally The importance of warns them of “their own danger”.

See also: Warren Buffett

Why it matters: Gold has recently surged toward its record high gain of $2,940 due to growing economic uncertainty, especially around U.S. trade policy. Despite the Eagles’ Fed signal, the attractiveness of precious metals as a safe haven asset has been strengthened.

Federal Reserve Governor Michelle Bowman and the governor Christopher Waller It is not only advocated to cut interest rates, but the reason is the continuous inflation problem. Their position has made gold progress increasingly large, but has not reversed its upward trajectory.

Market participants are closely monitoring Wednesday’s minutes of the Federal Reserve meeting and potential developments in the Russian-Ukrainian peace talks, which could affect gold prices and broader market sentiment.

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Disclaimer: The content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.