Peter Schiff Signals ‘Buy The Dips’ As Gold, Silver Extend Fall – PAAS, AG, HL Stocks Down Over 3.5% Premarket

• Spot silver prices traded nearly 4% lower at $73.90 an ounce, their lowest levels in more than 10 days.
• According to Bank of America’s February Global Fund Manager Survey, investors expect gold to peak at about $6,200 per ounce.
• The U.S. Dollar index has gained around 0.4% over the past five sessions.

Economist Peter Schiff, in a post on X, urged investors to “buy the dips” after gold and silver prices continued to decline amid a stronger U.S. dollar.

Spot gold (XAU/USD) prices fell nearly 2% to $4,910 per ounce at the time of writing, down for a third consecutive session. Gold futures for April 2026 deliveries were down over 2% at $4,940 per ounce. Meanwhile, spot silver prices (XAG/USD) traded nearly 4% lower at $73.90 an ounce, their lowest levels in more than 10 days. Contracts expiring in April declined over 4% to $75.04 per ounce.

Precious metals have been on a downtrend over the past five sessions, with spot gold edging 2.5% lower and spot silver slumping nearly 9%.

The U.S. Dollar index (DXY), which measures the greenback against six major currencies, was up 0.1% and has gained nearly 0.4% over the past five sessions.

Gold Could Consolidate Above $5,000

ActivTrades analyst Ricardo Evangelista told Reuters on Tuesday that traders are in a wait-and-see mode, with safe-haven demand pausing as markets look for clarity from U.S.–Iran talks and the latest FOMC minutes, which could shape expectations for the Fed’s rate path. He added that ongoing geopolitical and economic uncertainty, along with dovish dollar expectations, could keep gold consolidating above $5,000 and potentially pushing toward $6,000 later this year.

Meanwhile, several Asian markets, including mainland China, Hong Kong, Singapore, Taiwan, and South Korea, are closed for the Lunar New Year.

Gold To Peak At $6,200?

According to a report by the Wall Street Journal on Tuesday, citing Bank of America’s February Global Fund Manager Survey, investors expect gold to peak at about $6,200 per ounce based on the weighted average forecast. 

Meanwhile, 20% believe gold has already reached its high, while 19% expect prices to climb beyond $7,000.

How Did Miners Perform?

Shares of silver miners Pan American Silver Corp. (PAAS) and Hecla Mining (HL) declined more than 3.5% in pre-market trading, while First Majestic (AG) stock slumped 4.7%. Meanwhile, shares of gold miners Newmont Corp. (NEM) and Barrick Gold (B) fell 3.4% and 2.8%, respectively.

Retail sentiment for iShares Silver Trust (SLV) on Stocktwits remained in the ‘extremely bearish’ zone while sentiment for SPDR Gold Shares ETF (GLD) remained in the ‘bearish’ territory over the past 24 hours.

How Did Stocktwits Users React?

Regarding SLV, one user expects extremely high volumes on Tuesday, as investors may take advantage of lower silver prices and increased contract activity.

One bearish user said the ETF was likely to fall to $50. It is currently at around $68.

Read also: This Real Estate Stock Is Up 11% Before The Bell – Here’s Why

For updates and corrections, email newsroom[at]stocktwits[dot]com. 

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