U.S. Treasury bonds could be bottoming against gold, Mike McGlone suggests

U.S. Treasury bonds could be bottoming against gold, Mike McGlone suggests
Treasury bonds may bottom vs gold

Mike McGlone stated that U.S. Treasury bond prices may be bottoming versus gold after reaching what he described as a roughly four-decade nadir. He indicated that if the current ratio of about 2.4x between these assets holds into year-end, it could result in historically significant implications due to mean reversion.

McGlone has recently highlighted other commodity price developments. He noted that U.S. natural gas futures have stayed below $4 as managed-money net-short positions increased. In a separate update, he identified $2,000 as a key resistance level for platinum following its decline from near $3,000 an ounce.

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