“Not Good,” Schiff Warns as Gold and Silver Hit Records While Cryptos Slide

Despite crypto lagging behind precious metals, there are still experts and analysts that have issued bullish 2026 predictions for the markets. Schiff recently highlighted one of the predictions on X, and labelled it as “worthless.”

Gold and silver exploded to fresh all-time highs on Monday in a dramatic surge that veteran investor and known Bitcoin critic Peter Schiff says should worry Americans rather than excite them.

In a stark warning on X, Schiff argued that the precious metals’ vertical move is a sign of deepening economic stress and not a routine market rally.

“Gold is up over $80, a record high above $4,590. Silver is up over $4, a record high above $84,” he wrote in an X post today. 

His comments landed just as global markets confirmed a powerful safe-haven rush into bullion, driven by geopolitical tensions, uncertainty around U.S. monetary policy, and renewed concerns over financial stability.

Precious Metals Rip to New Highs

According to data from CoinCodex, gold burst above $4,600/oz earlier today, extending a months-long climb fueled by investors seeking safety amid escalating geopolitical risks and deteriorating confidence in the global economic outlook. 

Similarly, silver jumped to a record high alongside the price of gold.

Gold price (Source: CoinCodex)

Since soaring to another high, the price of gold has retraced slightly to trade at around $4,593 at the time of writing.

Geopolitical Tensions Add Fuel to the Rally

Sharp gains across both metals were also supported by rising tensions in the Middle East, ongoing U.S.–China trade uncertainty, and worries about tariff decisions expected in the coming weeks. 

Safe-haven demand has subsequently risen consistently across global exchanges, with traders citing recession fears, political instability, and tightening financial conditions as the core drivers behind the surge.

Cryptos Slide Amid Precious Metals Rally

While gold and silver may have rallied in the past 24 hours, the same cannot be said about prices in the crypto market. Over the last couple of weeks, cryptos have consistently lagged behind precious metals.

That trend continued in the past 24 hours. According to CoinCodex, the overall crypto market cap slid a fraction of a percentage throughout the past trading day. 

The top 10 largest cryptos by market cap contributed to the price slump. In the past 24 hours, Bitcoin (BTC) dropped a fraction, but still trades above the $90K level. Meanwhile, the remaining top 10 cryptos, except for Ethereum (ETH) and Solana (SOL), all recorded 24-hour losses. 

ETH saw a minor uptick in the past 24-hours, while SOL led in terms of gains in the top 10 list with a more than 2% gain during the same period.  

Dogecoin (DOGE) and Ripple’s XRP suffered the biggest losses in the top 10 list after both of their prices dropped more than 2%. In the last hour, all of the top 10 cryptos experienced a pullback as well.