Ronnie Stoeferle

Ein bisserl #Gold, #Tether und #BTC im Plauscherl mit dem lieben @NikoJilch. Ist cool geworden, vielen Dank! https://t.co/52sAydwlkP

Bull Market, Not Bubble We're in a bull market, not in a bubble yet. No crazy M&A. Pristine balance sheets. Record free cash flows. Gold/silver ratio nowhere near 15–20 (where previous secular bulls ended). It could become a great bubble. But not yet. https://t.co/NxKZn3enAE Big thx to @MichelleMakori

Our new "Gold Compass" is out! More than 40 great charts on #gold, #silver, #miners, #macro and of course also our proprietary models! https://t.co/MR9zZIAqe3 Enjoy!!!! https://t.co/nPkv4Fhpwv

Quick thoughts on #GOLD 🧵 Gold ignores the hawkish trifecta: higher oil, higher yields, stronger USD and still defends $4,000 like it's the Alamo. Nominal & real yields made higher highs last week. Gold, silver & miners didn't make new lows. Positive divergence...don't pop the champagne yet! Today's FOMC: consensus expects a hold at 3.50-3.75%, but Chair Warsh's hawkish rhetoric keeps a September hike on the table. CTAs still short. ETF outflows have stopped. Central banks & China keep buying the dip... someone forgot to tell them gold is supposed to be "correcting." Double bottom at $4,000? Next stop: reclaim $4,200. 200dma sits near $4,500. Break below $4,000 and $3,800 is next. This is NOT a "buy everything" correction. In the Active Gold strategy, that I manage, we stay selective: companies with strong balance sheets, visible FCF conversion, upcoming catalysts. Cheap quality, not cheap beta. Remember Jim Grant's law: people get bullish at the top and bearish at the bottom. Works every single time... which is exactly why nobody learns it. No investment advice. Just a guy who's been staring at a gold chart for 20 years and counting .-)

Gold Market Cap as a % of Global Stock Market Cap: What a great chart by my pal @TaviCosta His blogpost https://t.co/U6D5e2c0ns is highly, highly recommended! https://t.co/xLGYZn8win

5/10: Yet miners remain a small corner of global markets. Listed gold miners are worth roughly USD 1.2trn, versus USD 4.8trn for NVIDIA and USD 65.9trn for the S&P 500. Physical gold is about 27 times larger than the listed gold-mining sector. https://t.co/tmo4lOQ4El

Gold miners run the world's strangest business: they dig up the antidote – and immediately swap it for the poison. The industry tells investors to hold 5–10% in gold. Its own treasuries? ~100% fiat. Time for a Corporate Gold Standard. New #IGWT26 Nugget 👇 https://t.co/evtPDCLV53

Gold miners run the world's strangest business: they dig up the antidote – and immediately swap it for the poison. The industry tells investors to hold 5–10% in gold. Its own treasuries? ~100% fiat. Time for a Corporate Gold Standard. New #IGWT26 Nugget 👇 https://t.co/8svWo13hXH

From 2 cuts to 2 HIKES. 🎢 Over the last couple of weeks, the market repriced Fed expectations by a full 180°. 3 scenarios from here: 1️⃣ Warsh out-hawks the market → USD grinds higher, gold continues to weaken. 2️⃣ Warsh delivers exactly what's priced → dollar firm, gold drifts sideways-to-soft. Largely discounted already. 3️⃣ No hikes, maybe even cuts, as inflation expectations are collapsing? A month ago, the market’s assessment of inflation over the next year was 3.20%. Now, it’s below 2.20%, the LOWEST 1-yr INFLATION expectation since Trump took office! (ht @kevinmuir) Our base case rhymes with #3. Which raises the real question: is Warsh actually hawkish, or just play-acting? Sound money, or sound bites? $XAU #gold #Warsh

The most underrated number in UBS's new Global Family Office Report 2026: Silver & other precious metals (ex-gold): 0%. 🥈 307 family offices, USD 2.7bn average net worth — and silver doesn't even register. You can't be late to a party nobody's shown up to yet. https://t.co/tYcB57QhYk