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Mike McGlone: Gold may be nearing $4,000 bottom or could be just bouncing
Mike McGlone raises the possibility that pump-then-dump contagion could be spreading in markets. He questions whether gold is forming a bottom near $4,000 or if its recent movement is merely a bounce.
The comment highlights uncertainty around gold's current price action and broader market dynamics.
McGlone previously projected that gold could reach $5,500 by 2026, alongside forecasts for other commodities and bitcoin in his commodity outlook. He has also commented on the relationship between TLT and the U.S. Oil Fund, noting a record 10-year low for the bond ETF in a recent observation. These views provide additional context for his latest concerns about market contagion and gold's price action.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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