Episode 81: GoldMoney’s Alasdair Macleod interviews Ronald Stöferle, who was a gold expert at Erste Group Bank and now works as a fund manager at Incrementum. They discuss the situation in Europe, central bank money printing, and the positive outlook for gold and silver prices.
Stöferle talks about his decision to leave Erste Bank and start a new fund which is based on the philosophy of the Austrian School of economics. They address the debt crisis in Europe, which is now set against the backdrop of upcoming elections in Germany and the deteriorating situation in France. In light of the continued monetary easing by central banks (and ever diminishing returns) Stöferle points out that gold and silver should continue to be on everyone’s watch list.
He emphasises that institutional holdings of gold and silver assets remain at very depressed levels and have much upside potential. They discuss the importance of physical gold demand from Asia and the renaissance of gold in finance with the changes in the Basel III rules. Finally they talk about silver, its potential to outperform gold during this current bull market, and VAT issues in Europe as well as tight physical supply for both gold and silver in 2013.
This podcast was recorded on 7 December 2012.