Renowned Bitcoin critic Peter Schiff advises investors to "buy the dip," but this time he recommends stocks related to metals rather than cryptocurrencies or precious metals themselves. He pointed out that gold and silver prices have fallen to $4,443 per ounce and $77.34 per ounce respectively, while related mining stocks have declined far beyond expectations. Despite the fundamentals of demand and costs not deteriorating, their trading prices are below current spot prices, reflecting a valuation mismatch issue. The S&P 500 index remains flat at 6,947.39 points, and there has been no widespread market sell-off. Schiff believes this decline is due to spillover from commodity sector sentiment rather than a structural problem. Notably, he did not mention Bitcoin's 2.14% drop to $91,742 at all, instead focusing on the disconnect between physical metal prices and mining stock valuations.
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Renowned Bitcoin critic Peter Schiff advises investors to "buy the dip," but this time he recommends stocks related to metals rather than cryptocurrencies or precious metals themselves. He pointed out that gold and silver prices have fallen to $4,443 per ounce and $77.34 per ounce respectively, while related mining stocks have declined far beyond expectations. Despite the fundamentals of demand and costs not deteriorating, their trading prices are below current spot prices, reflecting a valuation mismatch issue. The S&P 500 index remains flat at 6,947.39 points, and there has been no widespread market sell-off. Schiff believes this decline is due to spillover from commodity sector sentiment rather than a structural problem. Notably, he did not mention Bitcoin's 2.14% drop to $91,742 at all, instead focusing on the disconnect between physical metal prices and mining stock valuations.