Reported about 2 months ago
Bloomberg Intelligence's Mike McGlone predicts that gold prices, which recently reached an all-time high of over $2,560 per ounce, are on track to hit $3,000. He discusses the current market dynamics, including rising unemployment and an inverted yield curve, suggesting that gold tends to outperform the S&P 500 during such conditions. McGlone believes strong upward momentum for gold is likely if stock market conditions shift.
Source: YAHOO