Gold to Hit $3,000? Mike McGlone Warns This Crisis May Surpass 2008

In an insightful interview, Jeremy Szafron, Anchor at Kitco News, speaks with Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, about the current market turbulence affecting global equities and commodities, with a particular emphasis on gold. McGlone draws parallels between today’s market conditions and the 2008 global financial crisis, suggesting that the current period could potentially be even more severe. He cautions against buying the dip in equities, emphasizing the need to understand the ongoing 'normal back and fill' market corrections. McGlone also delves into the relationship between gold and U.S. Treasury yields, offering insights into why gold might emerge stronger in this challenging environment.

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00:00 - Introduction and Market Turbulence Overview
01:15 - Global Financial Crisis Comparisons
02:28 - Market Volatility and Mean Reversion Insights
03:42 - Bitcoin as a Market Indicator
04:56 - Treasuries and the Flight to Safety
06:09 - Gold’s Current Stability and Future Projections
07:35 - Gold vs. Bitcoin: Store of Value Analysis
08:48 - Impact of Managed Money and ETF Flows on Gold
10:01 - Commodities and Deflationary Forces
11:15 - Long-term Investment Strategies for Gold and Treasuries

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