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Ronnie Stoeferle: Gold is The Big Long And We’re Barely In the 6th Inning

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May 20, 2025
In a captivating discussion, Ronnie Stoeferle, portfolio manager and head of research at Incrementum AG, reveals insights from his 'In Gold We Trust 2025' report. He argues that gold is not just a safe haven but a strategic response to declining trust in fiat currencies. As we are in the '6th inning' of gold's bull market, he predicts prices could soar to $4,800 or even $10,000. Ronnie also touches on the increasing gold repatriation by central banks and the concept of a future monetary reset, revealing a profound interest in both safe haven and performance gold.
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INSIGHT

Gold's Bull Market Stage

  • Gold is no longer contrarian but in the second half or around the 6th inning of its bull market cycle.
  • Performance gold like silver, mining stocks, and Bitcoin offers significant upside now.
ADVICE

Differentiate Gold Types

  • Distinguish between safe haven gold (physical, long-term) and performance gold (mining stocks, silver, Bitcoin).
  • Actively manage performance gold assets for optimal returns.
INSIGHT

Gold Market Cycle Explained

  • The gold bull market follows Dow theory's three stages: accumulation, public participation, and mania.
  • Currently in the public participation phase with increasing mainstream interest but no mania yet.
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