Current Gold Setup Greatly Surpasses Prior Bull Cycles
Matthew Piepenburg, Partner at VON GREYERZ, joins his friends from “down under,” Brian and Darryl Panes of As Good as Australia, to discuss core gold themes, including why now is a highly credible buy-moment for precious metals.
Piepenburg begins by making the critical distinction between gold investing (for the long term) and gold trading (for the short term). These are entirely separate mind-sets and discussions, and Piepenburg reiterates why VON GREYERZ thinks and speaks entirely to the former rather than the latter. Price action in early 2026 shook out those who don’t see or understand the larger macro picture of open decline in paper money in general and USD hegemony in particular, all of which Piepenburg unpacks with fact after fact after fact rather than speculation. This is why the “fire-sale” initiated by the CME and COMEX in early 2026 was not only a flashing buy-signal for central banks “building their Ark,” but also for sophisticated, long-term gold investors as well.
Piepenburg also addresses prior gold bull markets, dips and corrections and underscores that no bull asset moves in a straight line. That said, he adds a critical perspective as to why the world we see in 2026 is so radically different than prior cycles. In fact, the set-up for gold today (as to debt levels, S&P over-evaluation and declining dollar hegemony) is significantly, mathematically and historically more bullish than prior cycles.
Piepenburg then discusses silver projections in the coming years and explains why this metal has a uniquely bullish setup based not only upon clear supply & demand forces, but also by its rising prominence among the “big boys” at the Bank for International Settlements.
Piepenburg further explains why nations will avoid the right decision of returning to a gold standard of sound money. Nevertheless, he does see an undeniable and now fact-confirmed move to a new global monetary system wherein gold replaces paper currencies and IOUs as the preferred collateral for net-settling global trade. This alone will create massive tailwinds for the gold price in the years to come.
Toward this end, the conversation ends on precisely this point: Why gold makes such perfect sense for longer-term investing rather than short-term debating.
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