Gold may face normalization versus broad commodities, Mike McGlone warns

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Anastasiia Chabaniuk

1 hour ago

Gold may face normalization versus broad commodities, Mike McGlone warns — Gold risks normalization after record high

Mike McGlone highlights the risk of normalization in gold prices compared to broader commodities. He notes that gold could have set an enduring high in 2026, with his analysis pointing to a shift for the precious metal after reaching a record high near $5,500 an ounce in the first quarter.

McGlone suggests gold is closely tied to other metals and cautions that recent trends may indicate a significant annual downturn following this peak.

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McGlone previously observed crude oil falling toward $40 per barrel as gold approached $3,400, highlighting marked shifts in major commodity prices at the time. He also indicated that crude prices might need to reach $40 to help reduce U.S. and Canadian supply surpluses. These earlier views provide context for his cautious outlook on gold after its recent highs.

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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