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HUGE GOLD News From China & Russia! This Will Change Everything For Gold & Silver - Mike McGlone
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HUGE GOLD News From China & Russia! This Will Change Everything For Gold & Silver - Mike McGlone
Over the five-year period, gold has climbed an impressive 81.65%, outpacing even the S&P 500. Topline Gold prices continue to skyrocket, closing last week at another record high. Several factors help boost the precious metal, which has actually outperformed the blistering stock market in 2024.
Senior Commodity Strategist Mike McGlone at Bloomberg Intelligence notes that the intensifying Cold War 2.0, marked by stronger ties between Xi and Putin, is driving gold higher. He highlights that gold typically outperforms during Fed easing cycles, as seen in 2007 when it gained 20% while the S&P 500 dropped. During the major equity bear market and global financial crisis from November 2007 through February 2009, the equity market fell by 50.91%. In contrast, gold rose 20.58%, more than Treasurys and the US dollar, which gained 12.42% and 15.07%, respectively. Commodities declined 42.25%, clearly failing to provide the safety net that gold did.
Amid global shifts, Mike expresses that gold's strong upward trajectory will likely persist, significantly outperforming other commodities like crude oil. Over the past 160 years, the oil-to-gold ratio, which measures how many barrels of oil one ounce of gold can purchase, has averaged around 19 barrels per ounce, with a standard deviation of 8 barrels per ounce, said analysts at Bernstein in a note.
Analysts at Morgan Stanley and Goldman Sachs are anticipating lower crude oil prices in response to OPEC+'s plan to increase production, offsetting demand fears in the wake of Libya halting oil production entirely.
Highlighting market extremes, Mike observes that the S&P 500 has reached its highest level compared to global stocks and gold since 2007. He predicts that a market shift is inevitable, with volatility at record lows, pushing investors toward safer assets like gold. Traders showed signs of indecision on Tuesday as volatile price action dominated most markets, except for precious metals, with spot gold extending its record-setting rally as it surpassed 2,660 dollars per ounce for the first time in history.
Regarding the current gold market, Mike McGlone expresses concern about potential short-term risks, drawing parallels to 2008, when gold temporarily dropped before a strong rally. Despite recent volatility, Mike McGlone predicts that gold will reach 3,000 dollars an ounce as hedge funds maintain strong long positions. Lower rates reduce the cost of holding precious metals, while a weaker dollar makes them cheaper for foreign buyers. Additionally, US PMI data shows inflation rising faster in six months, further supporting demand for these safe-haven assets.
However, Mike predicts a short-term bounce in crude oil due to Chinese stimulus but warns of long-term economic concerns, comparing China's situation to past peaks in the Soviet Union and Japan.
"Welcome to our channel dedicated to gold and silver investing! In this video, we provide expert insights and analysis on the latest trends in the gold and silver market. Discover strategies for investing in precious metals, including gold and silver bullion, coins, and jewelry. Stay updated with real-time price updates and market news, and learn how to diversify your portfolio with gold and silver. Whether you're a beginner or an experienced investor, our channel offers valuable tips and guidance to navigate the world of precious metals.
Subscribe now for in-depth analysis, historical data, market forecasts, and more. Join our community of gold and silver enthusiasts and unlock the potential of these timeless assets. #GoldAndSilverInvesting #PreciousMetalsChannel #InvestingTips"
We bring you the latest news, insights, and analysis on gold, silver, and copper. Our videos cover a wide range of topics, including gold price, gold prediction, gold price forecast, silver price, silver price prediction, copper price, market trends, investment strategies, and industry news.
We share interviews from experts like Rick Rule, Peter Schiff, Mike Maloney, Lynette Zang, and many others. Stay up-to-date with the world of finance and make informed decisions with our expert insights. Subscribe now and never miss a video!
#gold #goldpriceprediction #mikemcglone
Over the five-year period, gold has climbed an impressive 81.65%, outpacing even the S&P 500. Topline Gold prices continue to skyrocket, closing last week at another record high. Several factors help boost the precious metal, which has actually outperformed the blistering stock market in 2024.
Senior Commodity Strategist Mike McGlone at Bloomberg Intelligence notes that the intensifying Cold War 2.0, marked by stronger ties between Xi and Putin, is driving gold higher. He highlights that gold typically outperforms during Fed easing cycles, as seen in 2007 when it gained 20% while the S&P 500 dropped. During the major equity bear market and global financial crisis from November 2007 through February 2009, the equity market fell by 50.91%. In contrast, gold rose 20.58%, more than Treasurys and the US dollar, which gained 12.42% and 15.07%, respectively. Commodities declined 42.25%, clearly failing to provide the safety net that gold did.
Amid global shifts, Mike expresses that gold's strong upward trajectory will likely persist, significantly outperforming other commodities like crude oil. Over the past 160 years, the oil-to-gold ratio, which measures how many barrels of oil one ounce of gold can purchase, has averaged around 19 barrels per ounce, with a standard deviation of 8 barrels per ounce, said analysts at Bernstein in a note.
Analysts at Morgan Stanley and Goldman Sachs are anticipating lower crude oil prices in response to OPEC+'s plan to increase production, offsetting demand fears in the wake of Libya halting oil production entirely.
Highlighting market extremes, Mike observes that the S&P 500 has reached its highest level compared to global stocks and gold since 2007. He predicts that a market shift is inevitable, with volatility at record lows, pushing investors toward safer assets like gold. Traders showed signs of indecision on Tuesday as volatile price action dominated most markets, except for precious metals, with spot gold extending its record-setting rally as it surpassed 2,660 dollars per ounce for the first time in history.
Regarding the current gold market, Mike McGlone expresses concern about potential short-term risks, drawing parallels to 2008, when gold temporarily dropped before a strong rally. Despite recent volatility, Mike McGlone predicts that gold will reach 3,000 dollars an ounce as hedge funds maintain strong long positions. Lower rates reduce the cost of holding precious metals, while a weaker dollar makes them cheaper for foreign buyers. Additionally, US PMI data shows inflation rising faster in six months, further supporting demand for these safe-haven assets.
However, Mike predicts a short-term bounce in crude oil due to Chinese stimulus but warns of long-term economic concerns, comparing China's situation to past peaks in the Soviet Union and Japan.
"Welcome to our channel dedicated to gold and silver investing! In this video, we provide expert insights and analysis on the latest trends in the gold and silver market. Discover strategies for investing in precious metals, including gold and silver bullion, coins, and jewelry. Stay updated with real-time price updates and market news, and learn how to diversify your portfolio with gold and silver. Whether you're a beginner or an experienced investor, our channel offers valuable tips and guidance to navigate the world of precious metals.
Subscribe now for in-depth analysis, historical data, market forecasts, and more. Join our community of gold and silver enthusiasts and unlock the potential of these timeless assets. #GoldAndSilverInvesting #PreciousMetalsChannel #InvestingTips"
We bring you the latest news, insights, and analysis on gold, silver, and copper. Our videos cover a wide range of topics, including gold price, gold prediction, gold price forecast, silver price, silver price prediction, copper price, market trends, investment strategies, and industry news.
We share interviews from experts like Rick Rule, Peter Schiff, Mike Maloney, Lynette Zang, and many others. Stay up-to-date with the world of finance and make informed decisions with our expert insights. Subscribe now and never miss a video!
#gold #goldpriceprediction #mikemcglone
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