Global financial markets have reached a “monetary turning point,” according to Ronald-Peter Stoeferle, managing partner of Incrementum AG.
After this turning point, inflation will continue to rise, real interest rates will remain in negative territory or almost zero percent and monetary policy will be less impactful for markets than fiscal policy; this will be an era of fiscal domination.
Stoeferle told David Lin that “feeling [for gold] It is already so negative that the price may reach new all-time highs in the next two months, so we are not that far off. ”
Severe pessimism in the gold industry is a good sign from the opposite perspective, Stoeferle said.
In Bitcoin, he noted that the next phase of price appreciation has not even begun.
“I think if Bitcoin will exist in five or ten years, prices will go to regions we can’t imagine at the moment. Because, if you really see it as a hedge against inflation, against the big monetary experiments that are going on , and if you compare it to the size of the real estate market and the bond market … I think there is a lot of potential for recovery, “he said.
For the Stoeferle gold price forecast, watch the video above. Follow David Lin on Twitter: @davidlin_TV.
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