Bull Market In Gold Still In Early Innings, Major Upwards "Re-Pricing" Lies Ahead | Ronnie Stoeferle
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- Опубликовано: 16 июн 2024
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Today's guest is best known for publishing the world's most respected annual analysis of the precious metals market, known as the In Gold We Trust Report.
It covers what's driving supply & demand, the performance of the metals vs the companies that mine them, and what the outlook for prices is.
This year's report, subtitled The New Gold Playbook, was just issued last week -- all 400+ pages of it. To learn its highlights, we're fortunate to speak today with one of its co-authors, Ronald-Peter Stöferle, Managing Partner & Fund Manager at Incrementum AG.
Ronnie calculates that the bull market in gold is still in the early "Accumulation" phase. That will be followed by the "Public Participation" and "Distribution" phases.
Before the bull run is over, Ronnie sees gold being substantially re-priced higher.
Access the new 400+ page In Gold We Trust report, for free, at ingoldwetrust.report/download...
#gold #goldprice #preciousmetals
0:00 - Why Gold Is In A Bull Market
6:25 - Sources Of Demand For Gold
12:08 - Why Banks Don't Like Gold
20:12 - Future Price Outlook For Gold
27:06 - Why Central Banks Buy Gold
34:41 - Gold As A Geopolitical Asset
39:33 - Why Gold Will Be Re-Valued
46:00 - Safe Haven & Performance Gold
54:05 - Gold vs Bitcoin
1:04:25 - Reaction To Ronnie
1:07:26 - Gold's Breakout
1:21:33 - Price Targets For Gold
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Most of my adult life has been an accumulation phase. Don’t even think of selling my physical gold and silver.
It really makes a difference when the guest is actually managing money. Also, a world point of view is a big plus. Ronnie Stoeferle has both of the above qualities which made this a great interview. A few of the interview's high points: Grandma's Christmas presents (gold coins), currency reevaluations (which the West will soon learn about), 22% Central Bank gold allocation. I hope you continue to find guests who meet the above criteria and cut back on the typical macroeconomic analyst forecast.
Since 2022 I have been giving my only grandson 1oz silver coins for birthdays and holidays! 🙌🏼
Certainly better than buying plastic tat that gets discarded
those are some nice gifts sir
Well done - great idea :)
A very good idea. He will be very greatful !
Ronnie is the gold standard of, well… Gold. Priceless insights here.
Bravo Adam. Another excellent interview with Ronnie S. He is a wealth of information regarding the gold market and your
insightful questions helped to make it even more enjoyable. You continue to excel with the new TM site . Thanks for the good work!
Thank you for the very kind words!
Love Ronald's Analysis. Great move to get him !!!
Good Discussion. I like this guest. Thank you 👏👏
Great guest, for me a definite favourite - he puts together a very sound and balanced argument and its a nice change from the extremes for or against gold. Please do have him back
Adam, you're great. i love your intro... You have a warm welcoming smile without being cheesy
Thank you Adam. THE key moment of the interview (rhetorical question though it was): “Why not own both?”
Adam, you do a wonderful job “translating” high level content for the everyman…thank you.
Great interview. I tend to think of gold from an historian's POV rather than financial expert. I don't think humans are much more advanced mentally/behaviorally from our earliest ancestors. Since human civilization began there are some things always sought and always of value, be it by Egyptians, Greeks, Romans, Celts, Goths, etc.etc. - land, water, foodstuffs, cities, and gold. New fads, "it" things, technologies, pull attention and energy but they come and go (various historic fiat currencies I would count here) and then those same tangible basic stores of value remain - land, water, foodstuffs, cities and gold. Unless you think that suddenly after 3+ millennia, humans suddenly had a break in our brains/behavior, some species-wide genetic change, those will all still be of tangible value. The USD is still, just, the current large fad value as was the UK Pound before it and the Dutch Guilder before that, but all fads are ephemeral and at some point so will the USD be. Will a new BRICK currency replace it? Maybe. Will Bitcoin replace it? Maybe. But those too are just fads whose worth is based entirely on faith. Yes, I know the Bitcoin folks will chime in here about blockchain and scarcity, but Bitcoin is, like any fiat currency just faith in an idea. A computer digit is no more physically tangible than is a piece of printed paper...arguably less so by some and more so by others...but both are based on faith that these "notional ideas" are "worth" something. But land, water, foodstuffs, cities and gold are tangible goods that all have some inherent value. Our entire history has proven that to be true. We have fought wars over all of them for eons. Have we ever fought wars over a fiat currency or will we for Bitcoin? I think not. It's perhaps not "hip" or "modern" or "tech-savvy" in the view of financiers, but humans are still humans behaviorally and when push comes to shove we revert to those same tangible assets of value.
Now this does not mean the price of those core tangible assets doesn't fluctuate. Also, during "stable" periods those various what I in-artfully referred to as "fads" will be key sources of relative value as stability keeps the faith in them going. The key here to me is -are we heading towards instability be it wars, institutional declines, debt, emigration, politics, power block changes, etc.? I think the odds are very much in favor of that be it the "Forth Turning" or demographic issues, or climate change or whatever. I doubt many observers see stability ahead in the near term. Thus for me it's time for those old time-tested physically tangible assets to become more important.
Well said. Also a good test to show the intrinsic value of gold is if you had $2300 in cash and a one ounce gold coin and you needed to buy something worth $2300, would you pay for it with the cash or the gold? Of course you’d use the fiat currency because the gold unlike the cash is intrinsically valuable and will keep its purchasing power.
This is why I smh at the people who say "it'll be different this time". That's what they've said every time, and humans are no different this time than all the other times.
I wonder whether Bitcoin is just a spoof that capitalizes on the Z generation's obsessions with their smartphones. Gold and silver have been the forms of money to which people gravitate voluntarily, and I doubt that Bitcoin will change that, but it or a better version might supplement PMs.
Really really interesting!!
Thank you for having Ronnie on, that was a brilliant discussion
Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊
Awesome interview as always. Thank you, Adam!
Thank you both for this valuable information.
Great interview. Thank you, Adam, Ronnie, and Mike!
Adam when you have guests on and you talk about gold it would be nice to get their opinion on where they think gold should be relative to the debts of the United States and how they would calculate it. Lynette Zang says that an ounce of gold to the US debts put one ounce of gold at 41000 an ounce ish and she's been studying currencies and currencies lifestyle since 1989. So knowing all this you should be also convincing people to buy because gold will go up when the end comes for the fiat currency
one of ur best guests of all time!
Amazing interview. This is where I go for the truth
Excellent discussion. Thanks
Good interview!
Love listening to Ronnie Stoeferle's take on things.
Very good interview. I too like to hear from people who manage money.
Terrific session on precious metal. Loved it.
Good honest review
Love Ronnie! Great show! Go Gold 🥇
Ronnie ist ein kluger Österreicher!
Fantastic interview. Thanks!
Thank you Adam
What a guest. Thank you adam.
Thank you for sharing your knowledge for free
Mr Peanut here:
I highly resent the constant references to physical gold holders as “nuts” peanut boy!
You're nuts!
Are we truly nuts for trusting something that has been valued for millennia?
Thank you very much...
Outstanding interview Adam ..love your work.
Great video guys!
Great different perspective , well done !
Very nice!
Vielen Dank für das Interview. Nach einer halben Stunde Ronny sind meine Ohren reif für den Urlaub. 🤪🌴
Excellent
Our advisor said he doesn’t recommend any gold or silver. We bailed last fall.
Your loss
@@shingnosis we didn’t even owe much taxes because we were barely making anything with him.
@@erinsweet8147 Correlation not causation
I'm on a board of directors with a long time financial advisor. Recently I asked him how he chooses stocks to recommend. He told me he gets his stock purchase ideas by watching Jim Cramer. Yikes!!! You are a lot better off listening to Adam Taggart's interviewees.
@@mrratskins what?!?! 😱
My local coin shop is buying more then he’s selling right now. According to him, much more. Huge delta. Keeps little silver on hand. All goes directly to refinery due to price volatility and little demand. I wonder where it goes after the refinery? I’ve heard from several reliable sources that the gold goes to Canada and is then refined into future jewelry or coins. Maybe some gold and a lot of silver are then moving east?
Excellent interview many great points. This does bring to mind my concern about central bank, Digital currencies and the road we are on in the United States. If we are on an unsustainable path, then what really is the end of this. Could they be hitting us on a path to Disaster in order to usher in central bank Digital currencies? If currencies implode, could that be the framework for necessitating a rescue to alternate currency form? Maybe. As governments tend to produce policies that create the conditions for disasters that require rescuing usually in the form of bailouts or some other extreme measures. So could that be the end? I would love it if you would talk to somebody in depth on central bank digital currencies thank you Adam. This was an exceptional video. Thank you.
At what ratio Gold to Silver would you suggest selling silver for gold? 1:60 1:50 ...??
Adam - I'd love to hear the audio you speak about with Mike you recorded
56:00 AHMEN BROTHER!! I reverse engineered my way here, starting by mining Bitcoin, learning econ, learning austrian econ then being enamored with gold and monetary history.
To champion only digital or analog money is a disservice to advancing oneself.
In that "In gold we trust" report, is there anything about different nations issuing new debt denominated in gold?
Adam, I love ya but 6 advertisements in 30 minutes on RUclips. The first one occurred 5 minutes into the interview. I know you need to be compensated for your excellent work, but this is a bit much. Do you have any control over this?
Not Adam's fault. Blame YT and get one of the many free ad blockers. I never see an ad.
brave browser ..no commercials at all..been using it for long time
The problem with holding physical gold/silver in the U.S. is finding a buyer. I recently sold some gold to buy land and my local pawn shops only offer 90% of spot for silver and 95% for gold. Then when prices are high they become reluctant to be buyers. You have to hold precoious metals for quite awhile just to make up the cost of premiums that are charged
Buying CEF and NEM
Richard Russell would be great to listen to ❤
Gradually then suddenly, as with all things
Bought some 1oz Philharmonics for my girls October 21. 48/64% up on bid/ask in local currency.
I just started the interview, but already I can see from the comments that there is quite a contingent of trolls, malcontents, and those with a dubious agenda. That's usually a good sign that some truth is being spoken.
Love Ronnie!
Adam, please do timestamps. Love your work.
Added -- check them out
Absolutely! Adam is "top shelf" when it comes to content. He is changing lives.
Definitely heading for a second inflation wave and a minor rates cut could be the trigger that’s sets off a bigger than expected built up dry powder !
Fantastic interview up until the subject of Bitcoin came up. Got a bit strange after that.
Do Eastern Emerging Markets also buy miners?
can you at one point try to improve the quality of your stream? Guest a real clear but your stream is somewhat blurry.
As best I can tell, it's my background. It's clear when I upload to RUclips, but there's something about my background that causes YT to degrade the image when it renders. I'm working on getting a new & better background within the next few weeks.
Does he hedge with selling covered calls or buying calls?
Gold more than doubled in the last 8 years. That also tells you what the dollar has done in the last 8 years. Pretty simple. Get your money into liquid assets.
Physical gold vs silver? Which is the better investment in the next year or two?
Price of gold is an all-time high. Silver is not anywhere close to being in an all-time high. Silver is not held in federal reserve banks around the world gold is.
For the next year.....silver. until the silver to Gold ratio goes below 10.
Some of both. Gold buy and hold, silver trade.
@@Jalleur14325 Thanks to everyone who responded. Sounds like you're all on the same page. I'm sold. Much luck to all of us.
I am really enjoying the content of this video but it keeps getting interrupted - too many commercials!!!!
The value of gold doesn't change. It'[s the fiat currency that is losing value and not the value of gold increasing...
Your mic is MUCH LOWER VOLUME than Ronnie's!!!??? Better correct that. I had to adjust my volume frequently.
Both charts have an inverse head and shoulder pattern.
small correction: adam deserves it all the best
Adam beat Mike in getting Ronnie on his channel 😁
According to Michael Howell, gold is a monetary inflation hedge. If gold doubles between now and 2030 I guess it’s inflation for the rest of the decade.
Two giants - literally 😂 🔥
I thought planB invented the Stock to Flow model
hahaha nice looooong outro-music😂😅
🤫💰,
let's keep it that way. No need to make it popular.
Thing about bitcoin is that what mercent is going to take it, its easy to destroy by say, destroying the storage device that once contained it or lossing it to a forgotten password. Gold doesnt have that problem.
I have half of my Net Wealth in G and S. So my life depends on it!
le comex manipule a la baisse mais les ventes papier etf ect ont une fin surtout au vu de la demande en physique , industrie , placement , nouvelles tchecnologies ,brics , ect . L or , l argent , le cuivre ect vont exploser a la hausse !!
If the US is creating debt; 1 trillion every 100 days and the big holders of US debt are not buying at all in the case of Russia and China... in the top 20 countries on the list the majority are not increasing their treasury holdings if they are buying at all. So, who is buying the debt?
The Fed, Banks, hedge funds, insurance funds, and individuals. The hedge funds, banks and Insurance houses are not using accumulated funds; they are creating money, they are creating a balance sheet debut and balancing these with paper...
This is called a ponzi scheme... nothing backing debt but bits of paper, the treasury is paying the interest and principal out of new inflows... Central banks are buying because the emperor has no clothes. The US is bankrupt and every body is coming awake.
Ponzi, Ponzi
Gold needs to be $20k+/oz because it is necessary to be able to use it to represent high density wealth.
Nobody wants to cart around a ton of gold to purchase a senator or an island etc.
Or not...
I pray/hope to see some kind of gold standard in my lifetime.
Adam check your mike it is softer then normal
you don't have to own both. Just own the one you are comfortable with. It's fine to own a little bitcoin at 1000. But to buy it now, the risk is too high.
Me thinketh interesting Mike called it., potentially a forty year bull market in stocks and Mike Maloney calls it potentially a forty year bear market in......precious metals!@!?😉😁
Well, I'd say a $100 -3 day pull back is the kind of correction that is going to test the resolve of any newcomer to the gold trade. If it doesn't hold here, 50 day moving average, it could drop another $200, and from there, all the 2024 gains. Gold is not for the faint of heart, that's for sure
This is a healthy correction. You don’t want PM to go up like a rocket. If gold hold at $2,300/oz and silver at $30/oz, it is a good consolidation spot. I like the correction and just nibble a little until it spike again when the unemployment number force the Fed to cut rate which mean the economy is slowing and going into a recession.
If Wall Street doesn't want to buy gold because it's thought that they can't make enough money on it then they should be buying the undervalued gold stocks and minors because once everyone realizes that gold is the next new standard and you have a position in these Miners and juniors you will make a crap ton of money
As it is CRASHING…..
A lot of weird comments for this interview. Are people really upset that a guy who buys gold for a living is promoting gold? I guess he's right that gold brings out a lot of emotions in people
Nobody outside the US cares about innings or knows the rules of baseball. Or is it a saying for something years ago announced and we are still waiting? 🙄
Gold should be at the center of that story because the dollar was tied to gold so that's where prices began to inflate and cost more
Adam you need to find a bitcoin guy to talk bitcoin with. Will help grow your channel too
Everyone seems bullish on gold. The beatings will continue until morale declines.
This is a healthy correction. You don’t want PM to go up like a rocket. If gold hold at $2,300/oz and silver at $30/oz, it is a good consolidation spot. I like the correction and just nibble a little until it spike again when the unemployment number force the Fed to cut rate which mean the economy is slowing and going into a recession.
I can't afford gold but I have started saving Hanukkah gelt.
Idk if china will get the gold from its citizens without a fight at this point.
Try holding bitcoin in your hand. Or barter when the internet/ government control.
WHY FEW DONT SEEM TO GET THIS … GOLD IS TAXED AT A 28% RATE LONG TERM GAINS RATE. WHEREAS ALL OTHER ASSTES ARE TAXED AT 20% THATS 40% MORE !! THE RATE IS PUNISHING ONLY GOLD INVESTORS.
Not in the UK. It is capital gains tax free.
Not when purchased through a physically allocated fund such as OUNZ or the Sprott vehicles.
@@mrratskins Oh, well quite. That's why it's better to buy physical gold (coins not bars) through a company that takes just one fee front loaded and nothing at the other end and no tax. Fees around 6%. After that, it's all yours.
The enemy of my enemy is my friend.
1st, 23 May 2024
There are 1.4 billion Indians and gold is held for generations. The bigger temples get hundreds of kilos in gold donations Every year. You think India owns more gold than just the US? It's probably a multiple of the US holding
True. Is quite an unknown.