Gold and Commodities Take Center Stage at Hugo Investing in Marbella

What do shifting power dynamics and rising national debts mean for private investors? That question was central to the Dutch-language seminar organized by Hugo Investing on October 21 in Marbella. Guest speaker Willem Middelkoop shared his vision on the international monetary system and the commodities market. Kaspar Huijsman, founder and CEO of Hugo Investing, connected these economic themes to concrete examples for investors.

The event brought together two perspectives. Middelkoop examined the shifts behind the daily market news, while Huijsman focused on what investors can do with that information. In doing so, Hugo provided space for both a distinct market outlook and explanations of how investment instruments work.

Gold in a Changing World

Middelkoop, author of The Big Reset and founder of the Commodity Discovery Fund, placed developments in a historical perspective. The Bretton Woods conference of 1944 served as an important starting point in his narrative about the international financial order and the position of the US dollar.

His core premise: shifts in economic and geopolitical power affect how countries manage their financial reserves. In his view, gold plays an increasingly vital role in this dynamic. The presentation highlighted gold purchases by central banks,as well as China’s movement away from US Treasuries and toward gold.

A chart shown during the event compared the share of gold versus US Treasuries in global central bank reserves. Based on the cited ECB data from the end of 2025, those shares stood at 27 and 22 percent, respectively. Middelkoop used these developments to support his outlook on a changing monetary system.

Rising US national debt and the relationship between interest rates and inflation were also covered. For Middelkoop, these topics are closely tied to maintaining purchasing power. He warned of a scenario in which the next financial crisis primarily impacts governments. According to him, new money creation to handle these issues could further erode purchasing power. Based on this expectation, he emphasized assets that cannot be easily created out of thin air,representing his personal view on potential future developments.

Commodities as a Strategic Asset

From gold, Middelkoop transitioned to critical metals. His thesis is that commodities are increasingly becoming tools in geopolitical conflict, directly impacting the economic independence of nations.

Copper illustrated the tension between future demand and available supply. An image in the presentation contrasted the 700 million tons of copper produced in human history against an estimated requirement of 1.4 billion tons of new copper to achieve net-zero emissions by 2050. This estimate highlighted the magnitude of the task according to the source provided.

Middelkoop also explained how his Commodity Discovery Fund positions itself in the commodities market. The presented breakdown across investment phases consisted of 40 percent exploration, 30 percent developers, and 30 percent producers and streamers. According to the presentation, over 75 companies from the portfolio have been acquired since its founding in 2008.

Alongside the opportunities, explicit risks were outlined. The presentation identified market, concentration, and liquidity risks, as well as the risks of limited due diligence. Particularly with smaller exploration companies, low trading volumes can make it harder to build or unwind positions.

From Economic Vision to Concrete Examples

In the final section, Huijsman brought the conversation back to the private investor. Inflation and savings rates were the starting point: what effect does holding cash have on purchasing power when interest rates lag behind inflation?

One of his examples was a short-term Dutch government bond as an alternative for a portion of available cash.Additionally, cybersecurity ETFs and energy were discussed as distinct asset classes. The presentation linked cybersecurity to real-world examples of major cyberattacks and their impact on businesses.

The final example in the slides focused on selling covered call options on stocks an investor already holds. In this strategy,the investor receives a premium in exchange for the obligation to sell the underlying shares at an agreed strike price under the option’s terms. The presentation used BESI as a practical example. These various instruments served as educational examples, not individual recommendations.

Personal Contact and Expertise at Hugo

With this event, Hugo Investing brought international economic themes to its meeting place on the Golden Mile. The regulated broker combines access to three trading platforms with local support.According to the company presentation, the team collectively possesses over 70 years of experience working with investors.

The seminar highlighted the role personal contact plays in this approach: investors can hear a market perspective directly from the speaker and ask questions about topics on their minds. Hugo effectively combined a guest speaker’s analysis with financial education for Dutch-speaking investors on the Costa del Sol.

More information: hugoinvesting.com/nl

Willem Middelkoop and the Commodity Discovery Fund thank you for attending at Hugo Investing. If you missed the QR code during the presentation, you can still view our information via this link.

The event was informational and educational in nature. The views of the guest speaker do not necessarily reflect the views of Hugo Investing. Investing involves risks, including the potential loss of principal.