GOLD - Peter Schiff Warns Stocks Are In A 'Stealth Bear Market' As Gold Hits Record High: 'Don't Get Excited About Today's 300 Point Rise In The Dow Jones' | Benzinga
Prominent economist Peter Schiff has downplayed the significance of the Dow Jones Industrial Average’s recent surge, attributing it to a “stealth bear market” in gold.
What Happened: Schiff took to X, formerly Twitter, to express his skepticism about the Dow Jones’ 300-point rise on Friday.
Major indices Nasdaq, S&P 500, and Dow Jones surged on Friday amid hotter-than-expected labor market data.
However, Schiff underscored that despite its surge, Dow is actually in a "stealth bear market" when compared to gold. While the Dow Jones Industrial Average gained 0.8%, it was overshadowed by gold’s 1.7% jump.
Schiff suggested that when measured in “real money,” the Dow lost close to 1%. He further noted that when priced in gold, the Dow is down ...