Is Gold’s Selloff Over? Biggest Shift Since 2008, Massive Inflation Ahead | Florian Grummes

* The Iran war is seen as the trigger for a major, long-term shift where commodities (led by energy) will outperform stocks for at least the next 5 years, akin to the cycle change post-2008. * This commodity-driven cycle is expected to fuel the next significant leg up in global inflation, increasing costs for energy, food, logistics, and insurance. * Gold is in a strong bull market but entered the war period extremely overbought, leading to a sharp correction; the speaker's core thesis is that one's job in a bull market is to "buy the dip." * Gold did not act as a safe haven during the initial war panic because in a liquidity crisis, "everything goes down," paralleling the 2008 experience where gold sold off sharply before bottoming ahead of equities. * Short-term sentiment in gold is the most depressed it has been in ~2 years, suggesting the correction may not be over; a test of support near or below $4,000 is plausible, but any such drop would be a major buying opportunity. * Physical gold market dislocations occurred (e.g., traders in Dubai forced to sell at a discount due to airport closures), contributing to the violent selloff and illustrating the market's complexity. * Oil markets have seen relief but the physical damage to Middle Eastern facilities (e.g., in Qatar) will take years to repair, providing a fundamental base for prices; new highs in oil are expected "down the road." * Bitcoin is assessed to be in a "crypto winter" that began in October of the previous year; such phases typically end with a panic selloff, which hasn't occurred yet. * Bitcoin has shown some resilience/uptick partly due to its utility in moving capital out of crisis zones like Dubai, but the primary trend is still sideways to down within the broader winter. * The speaker is more bullish on gold than Bitcoin in the short term, as gold is in a clear bull market (buy the dip) while Bitcoin's cycle bottom is not yet confirmed and remains vulnerable if U.S. stock mark