Mike McGlone: Gold may have set a lasting high near $5,500 an ounce

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Mike McGlone: Gold may have set a lasting high near $5,500 an ounce — Gold set record high near $5,500

Mike McGlone highlights that gold, as a beta to metals, may have established a lasting high in 2026. According to McGlone, his graphic shows the precious metal shifting to a notable annual red candle following its record price near $5,500 an ounce in the first quarter.

He observes that gold's behavior relative to broader commodities signifies risks of normalization after its strong performance.

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Earlier, McGlone noted that crude oil declined toward $40 per barrel while gold approached $3,400, highlighting shifts in pricing between the assets (source). In a separate analysis, he also warned that gold may face normalization versus broad commodities after reaching a high near $5,500 an ounce in 2026 (source). These prior comments frame McGlone’s latest observations on gold’s behavior.

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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