November 30, 2025 Advertise | Contact Us | Search

$8,900 Gold & $100 Silver In Sight - Gold Sessions with Jonny Haycock: Commodities Super Cycle

November 30, 2025

In the second instalment of Gold Sessions with Jonny Haycock, Partner at VON GREYERZ, he speaks to Ronald-Peter Stöferle, Fund Manager and Managing Partner of Incrementum AG, who is also a long-time friend of VON GREYERZ and our Strategic Advisor.

In a financial world still dazzled by indices, algorithms and balance sheet narratives, Stöferle draws listeners back to an undeniable reality. The commodities and precious metals sector has suffered more than a decade of underinvestment, drying the pipeline of future supply just as global demand for critical minerals and gold/silver accelerates.

The irony, as Stöferle notes, is that institutional portfolios largely excluded such assets in the belief that sustainability could be achieved without the metals and energy sources that literally make sustainability possible.

Against this backdrop of supply deficits, fiscal dominance and a central banking system that has quietly abandoned genuine inflation restraint in favour of survival via money printing, the case for precious metals to protect against inflation and debasement gets stronger by the day.

Gold may no longer be the contrarian asset that it was at $300. But it is fast becoming a strategic asset not only for many BRICS but many other sovereign entities, candidly recognising their need for sound money in a world of failing fiat currencies and ballooning paper IOUs.

It’s gold on rack to reach $8,900, silver remains historically mispriced on a relative basis, with the gold-silver ratio still perched above 80 versus its 50-median. If history is any guide, we should expect silver to rally above $100 in the near future.

History shows cycles of paper asset vanity eventually rotate into eras of tangible wealth, monetary defence and trusted collateral; and we are only in the opening chapters of that rotation now. Institutions and wealth managers remain extremely underweight in gold. The smallest shift from bonds into gold could cause prices to rise materially, given the lack of supply.

Watch the full interview to discover why metals, not IOUs, will define this decade. Get full context from one of the most accurate voices in the precious metals space.

VonGreyerz.gold

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Jonny Haycock, a former professional tennis player, qualified as a Barrister at Middle Temple in London before embarking on a long and successful 27 year career in the City. He joined Salomon Brothers in 1997 before moving into the European Equity division of Morgan Stanley in 2001 to sell equities to the London Institutional and Hedge Fund client base. Jonny was made Managing Director in 2007 and in later years sat on their prestigious European Equity Underwriting Committee. When he resigned after almost 23 years to join VON GREYERZ in early 2024, Jonny was one of Morgan Stanley’s longest serving MDs in London.