Peter Schiff sheds no tears as a Trump rally hammers gold, Dow nears 20,000

Gold is off nearly 10% since the Nov. 8 election. The Dow Jones Industrial Average is clambering toward 20,000—a major milestone for the blue-chip gauge as Wall Street grows euphoric over assets considered risky.

But this isn’t the stock market Peter Schiff envisioned when he started scooping up metals and mining shares amid repeated warnings of hard times ahead for equity markets.

Schiff, the chief executive of Euro Pacific Capital, and a longtime gold bug and market pundit who often espouses what critics describe as a bearish outlook for the equity market, is seeing his gold investments get bludgeoned since Donald Trump beat Hillary Clinton in the race for the White House over a month ago.

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