The gold market took a one-two punch on Tuesday as Trump made some concessions in the trade war and inflation numbers came in a bit higher than expected. Peter Schiff talked about it in his latest podcast, saying gold traders still don't understand the gold rally.

Stock markets surged as gold and silver dropped after US trade representatives said they would delay some of the additional tariffs recently announced by President Trump. The Dow closed 372 points higher (before collapsing back 800 points lower yesterday). Meanwhile, the price of gold dropped below $1,500 briefly before rallying back above that key number.