Otavio (Tavi) Costa
@TaviCosta
Founder & CEO of Azuria Capital LLC. Macro thinker, history student, value-oriented investor. Native of Sao Paulo, Brazil 🇧🇷 E-mail: tavi@azuriacapital.com
2.3K Following 312.3K Followers
China continues to buy the dip in gold.
A global gold rush is unfolding right in front of our eyes.
There Is No Way Around the Debt Problem But to Let Inflation Run Hot | Tavi Costa.
@TaviCosta argues that gold should no longer be viewed merely as a hedge, but as a signal of deeper structural change in the global monetary order. 🪙
When gold enters a secular bull market, the effects tend to ripple across currencies, commodities, mining equities, and emerging markets alike, revealing how interconnected today’s macro regime shifts truly are.
📖 Read more reflections from Tavi Costa, Luke Gromen, Brent Johnson, and Russell Napier in the @SoundMoneyRpt feature:
⏳ Only 13 days until the release of IGWT 2026: Back to the Monetary Future
#IGWT26# #RoadToIGWT26# #GoldInvesting# #SoundMoney# #PreciousMetals# #MacroTrends# #Geopolitics# #Testimonials# #VoicesOnGold# #AnniversarySeries#
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What a move in silver.
Game on.
We are in a structurally higher metal price environment driven by decades of underinvestment, constrained supply growth, and a global macro environment that continues to favor hard assets.
Markets are still very slow to fully appreciate this shift.
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Early breakout in the miners.
Amazes me how the miners-to-gold ratio still sits at historically undervalued levels.
This move is likely to accelerate to the upside.
Operating leverage in mining companies during a secular cycle is one of the most powerful dynamics in the market.
Investors still seem to believe current mining profits are temporary.
I could not disagree more.
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As usual @TaviCosta generous with ideas!
@TradeGateHub Live Trading | Tavi Costa shares his Forecasts Post War.
@forexstophunter and @TaviCosta discuss WTI which he was Bullish last winter in the mid-50's. Dale asks Tavi what he means by we don't have enough Precious Metals. Coach gets Tavi's view on Natural Gas which did not participate with the Oil Rally and if he believes the BOJ's intervention will be successful.
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🪙 “One of the most rigorous contributions to the global gold debate.” — @TaviCosta
🪙 “The first thing I read and the last word on the subject.” — @SantiagoAuFund
🪙 “One of my go-to resources on all things gold.” — @LukeGromen
🪙 “In independence of thought we trust.” — Russell Napier
As we count down to the #IGWT26#, four prominent macro thinkers reflect on 20 years of the In Gold We Trust report. Take a look to see why our insights matter more than ever in today’s monetary regime shift.
📖 Read the full article for free on the @SoundMoneyRpt:
⏳ Only 14 days until the release of IGWT 2026: Back to the Monetary Future
#RoadToIGWT26# #GoldReport# #GoldInvesting# #PreciousMetals# #SafeHaven# #SoundMoney# #Commodities# #MonetarySystem# #Geopolitics# #MacroTrends# #MarketAnalysis# #AustrianEconomics#
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Today’s ISM report was yet another very stagflationary report.
Prices paid spiked to 3-year highs, while employment fell to 2-year lows.
How will policymakers respond if this persists?
They will ease into weakness and look through inflation.
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This is a concerning chart but grounded in reality.
The surge in gasoline prices is likely leading commodity grains.
The next wave of food inflation is already here.
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Looking forward to this.
#Silver# Going Live with "The Silver Barron" Tavi @TaviCosta
#Silver# Going Live with "The Silver Barron" Tavi @TaviCosta
Natural gas prices are at one of their cheapest levels in history relative to oil prices.
Historically, those dislocations don’t persist when demand is accelerating.
And right now, the demand side story for natural gas is quietly becoming one of the strongest in decades.
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There goes corn today.
Another strong move in agricultural commodities as they continue catching up to energy prices.
The St. Louis Fed now posting Kevin Warsh’s useless inflation metric.
That’s how far these guys have to go to justify cutting rates while inflation is picking back up.
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The trimmed mean PCE inflation rate ticked up to 2.36% for the 12 months ending in March, up slightly from 2.35% in February. For more on the @DallasFed alternative measure of core inflation, see FRED:
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Gold and Silver Miners: Once Capital Black Holes, Now FCF Powerhouses
ht @TaviCosta
A new era for the mining industry.
Miners are generating roughly 7x what they did at the peak of the last cycle.
I’m old enough to remember when this space was considered “uninvestable” by the so-called experts.
Game on.
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Honest question…
How can one claim “complete control” of the Strait when there’s no freedom of navigation?
President Javier Milei just shared my post.
Wild…
CONDICIONES MONETARIAS RELATIVAS...
Lo he explicado hasta el cansancio el año pasado, hasta he presentado las ecuaciones en un streaming en el que las derivé ( @tronco las puso en una remera). Sin embargo el chanterío local operaba devaluación buscando sembrar el terror.
CIAO!
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Argentina is the only country where money supply is contracting at a double-digit rate.
Meanwhile, the rest of the world continues to expand credit with little to no monetary discipline.
None of us own enough hard assets.
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