“From a monetary point of view, gold is still extremely undervalued,” says Ronald Stoeferle, managing partner at Incrementum AG and lead author of the In Gold We Trust report. In today’s interview with Daniela Cambone, he explains why the gold price, despite hitting new highs, has not caught up with the massive expansion of the U.S. monetary base, federal debt, and global money supply.
Stoeferle compares today’s market to past gold peaks in 1980 and 2011, showing how gold has lagged behind nearly every key macro driver. “Since 1980, the gold price is up 294%, but the monetary base has soared over 3,500%,” he says.
He also expects a long-term dollar bear market driven by Trump-era trade policies and potential devaluation efforts. “Trump wants and needs a weaker U.S. dollar,” he says, adding that such a move could ignite the next leg of gold’s bull market.
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📖 CHAPTERS:
Chapters:
00:00 Why gold is not actually expensive
05:00 Why Ronald is optimistic about gold
07:30 Performance gold is gaining momentum
08:45 Inflation and its psychological impact
10:32 The new gold playbook explained
14:00 Will Basel III rules change anything for gold?
17:49 Why Trump wants a weaker U.S. dollar
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For more than 28 years, Phoenix-based ITM Trading has been a nationally recognized organization for trusted, data-backed research and investor education in the precious metals industry. They strategically assist clients nationwide, specializing in the different functions that physical gold and silver products provide in a diverse portfolio. ITM Trading’s mission is to give investors the knowledge, analysis, and lifetime strategies they require to confidently navigate the intricate monetary policies that restrict economic freedoms. They help build each client a custom portfolio designed to protect and grow their wealth and assets during economic downturns, hyperinflation, and currency resets.
Disclaimer: The information provided in this video is for educational purposes only and should not be construed as financial advice. Gold and silver prices are influenced by many factors and may fluctuate. All assets carry some risk and past performance does not guarantee future results. The views expressed by our hosts or guests do not always reflect the views of ITM Trading nor guarantee a specific outcome. Always conduct your own research and consult a financial advisor before making any investment decisions.
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41 Comments
Don’t get this Twisted. Banks DO care about Care. They just don’t want YOU to care about Gold. They themselves are hoarding Lots of Gold (using their Fiat Trash Monopoly Money that they Print and Digitize into existence). Bankers are not dumb enough to believe that their current Fraudulent Monetary System will go on forever. Bankers are always stacking Gold.
I thoroughly enjoy smart people engaged in smart conversations sharing their knowledge. Much like the US dollar, there's too much meaningless content and chit chat that has no basis in value. Just a lot of noise and it's often crude. This show is the gold standard. Pun intended.
1 kilo of gold corresponds to 32.15 troy ounces of gold. They normally have a purity of between 0.995 to .9999. The purity refers to how much gold there is in the bullion product alloy composition. PV = $109310.00 FV = $145710.00
You lot are bankrupting working class people investing in Gold which is going down. its not cheap it's expensive!!!!
Bitcoin is not sound money.
The central banks are just going to tie commodities l like gold, silver, oil etc to thier stablecoin/cbdcs. I used to be all in on gold and silver but realized there are much better ROI opportunities in the coming wealth transfer/reset. I dont think gold or silver is going as high as people think.
Very educational video … i give you full marks… wonderful
Very interesting, thank you
Ronnie has provided excellent analysis for many years. I agree, gold is still reasonably priced although it’s hovering at all time highs. Silver is remains undervalued as do the miners.
I am enjoying my gains in Gold ( and even bigger in PPLT) ; however it appears all the bears predicting a carsh in the US stock markets are in a trap ( if they put their money where their mouth is i.e, in shorts). Sadly I am very underinvested in US stocks but have NOT shorted.
Gold is more than 2x the cost of production. I'd call that fair value.
Why does everyone always bucher Ronald Stoeferle's last name?
The only person that can pronounce it is Mike Maloney
When gold becomes just another chart to reconcile against monetary aggregates, it loses its voice.
Those who understand gold don’t wait for it to “catch up” – they hold it because everything else is already lost.
Buy more Gold as investment
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Great to hear Mr. Ronald Stoeferle, on your show….his published report is worth reading…..thanks for having him on your show
They should print "In Gold We Trust" on every U.S. dollar…
Ronnie needs more airtime! 400+ pages worth.
Go for Gold!!! Gold is and will always be King!!! Definitely the best bet..
The price is fair just because it is market price. You love gold at USD 3300? You would love it much more @ USD 2500-2600. The best advice is to watch again the Margin Call movie, especially the last hour of it, telling the story of great sell off. How do you think, if their company had gold in their portfolio, what should be its destiny? Hold? Accumulate? Nope. Sell, as all the rest. Think deeper, guys and girls, don`t be lazy.
Its topped out…go home folks, nothing to see here.
Wonder what happens to gold and fiat when everyone has to go to digital currency CBDC to buy or sell? Will gold be worth nothing?
To blame things on Trump is such horse💩.
Most congressmen and women are to blame for all their excessive spending, especially Democrats. They just want to keep on spending, more and more and they do not want to eliminate fraud, corruption, and spending on stupid things. They are against DOGE. Horrible.
In another decade or so, what monetary asset will still retain or have the most trustworthy value in the eyes of the world whether they are individuals, banks, funds, financial or economic markets etc? You don't need your Govt. or Bank to tell anyone what is the real worth of any monetary asset or what is considered a safe haven asset as by the time they do, its always already a financial or economic crisis brewing and crumbling. Learn from the folks in India or China (approx. 3 billion people) as they know better than anyone else in the world about what monetary asset should always be accumulated and with the rise of their wealth due to the rise of the Asian Century economically, the Demand is obviously going to keep growing larger and larger which their own monetary authorities are starting tto realise and accumulating to prevent a sudden supply and demand shocks to the financial system still populated with fiat currencies, IOU's in Bonds/Treasuries/Notes etc.
In gold we trust? God will likely take it away from you.
Choose your words carefully, Ronnie.
Jobama cut Russia off from the SWIFT system and opened the US borders to people from 140 countries. He shut down the oil pipeline from Canada and much more.
And you blame Trump for loss of confidence?
Very few people in the United States can afford to purchase gold at $3300/oz. Here's this guy telling us that gold is cheap! 🤪
in 2025 most of people simply have no money to invest in Gold after they're done paying their monthly bills..!!!!!!!!!!!…
As much as i want to think all of these relationships price wise, ratio wise, etc mean something..well the truth is it, they dont have to. Nothing is real anymore. Its like predicting future performance based on past behavior.. It doesn't have to matter. Gives us something to talk about and hope for..thats it
Gold is not dirt cheap. Gold is up over 40% in the past year so there might be several months of consolidation in the $3,300 to $3,500 range. Maybe even the rest of the year might see this range. What is cheap is silver which has had some bursts higher, but hasn't moved 40% the way gold moved. As I see it; Silver is more likely to hit $50 or $55 than gold is to hit $4,000 or $4,500
We love Ronny:)
I'm not quite ready to say "in Gold We Trust" (one too many letters), but that was a very informative interview.
Bankers say that they don't care about gold, the reason is they want to continue with the paper money for the average person.The average person needs to wake up and see that this money game is a scam started in 1913.
dont use zimbawi – try china – they grew their economy in a massive way on a weak currency policy
Speaking of wealth protection, does ITM trading support Israel? Please let your viewers know where you stand.
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Won't the USA will fight hard to keep the value of Gold LOW? Because the higher gold gets, the less the dollar is worth? What can the USA do to keep the price of gold down?
If Biden was president or Kamala we would have hit 37 trillion 120 days ago.
How are MAGAs going to buy from ITM when the guest ignores Biden violated the trust of the international community by going after Russian assets for Ukraine then short-sightedly attempted to blame Trump about the trust issue.
They know it's impossible to beat the opponent so they resort to desperate things which can't help in the longer run👍
Daniel….You gotta start shipping to canada!