Mike McGlone says gold and silver may have peaked relative to US Treasuries, with gold retreating to 4000 USD nearby
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AT A GLANCE
Mike McGlone believes that gold and silver may have peaked relative to US Treasuries, and precious metals may change direction.
Article
Bloomberg: Gold and silver may have peaked relative to US Treasuries, with precious metals facing a potential turning point
BlockBeats reports,October 26, Bloomberg Intelligence analyst Mike McGlone wrote that gold prices have retreated to support near 4000 USD per ounce, while silver is approaching 50 USD, but both may be at extreme levels relative to US Treasuries over roughly 40 years, and precious metals may have peaked relative to US Treasuries.
McGlone noted that rate hikes by most central banks, together with a degree of pullback and volatility in the US stock market, could shift precious metals' performance relative to US Treasuries. In contrast, US Treasuries and Treasury bills with yields approaching 5%may become attractive again.
Original link https://m.theblockbeats.info/flash/373721
Key points
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BlockBeats says,October 26, Bloomberg Intelligence analyst Mike McGlone discussed the relative performance of gold, silver, and US Treasuries.
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McGlone said that gold prices have retreated to support near 4000 USD per ounce, while silver is approaching 50 USD。
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McGlone said that their performance relative to US Treasuries may be at extreme levels over roughly 40 years, and precious metals may have peaked relative to US Treasuries.
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McGlone noted that rate hikes by most central banks, as well as a degree of pullback and volatility in the US stock market, could shift precious metals' performance relative to US Treasuries.
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McGlone believes that US Treasuries and Treasury bills with yields approaching 5%may become attractive again.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a market view, not a confirmed turning point. Its core message is that gold and silver had previously performed strongly relative to US Treasuries, but amid central bank rate hikes, US stock-market volatility, and US Treasury yields approaching 5%, capital may refocus on US Treasuries, potentially altering the strength of precious metals relative to US Treasuries.
Why it matters to readers
If this assessment is correct, gold and silver may come under pressure relative to US Treasuries, while US Treasuries and Treasury bills may become more attractive. The original text only raises this possibility and does not prove that the trend has already reversed.
Beginners should distinguish between “a price approaching a certain level” and “a trend having already reversed.” They can continue to monitor gold near 4000 USD per ounce, silver near 50 USD per ounce, and changes in US Treasury yields, and should not treat an analyst's view as a definitive conclusion.
Risks and unknowns
The core content is Mike McGlone's market assessment and scenario analysis, not a confirmed fact.
The evidence does not provide the original Bloomberg article, making it impossible to verify whether the paraphrase is complete.
The evidence does not provide independent market data, making it impossible to verify gold, silver, and US Treasury yield levels.
It remains uncertain whether “rate hikes by most central banks” and a pullback or volatility in the US stock market will cause a shift in precious metals' relative performance.
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Whether precious metals have peaked relative to US Treasuries has yet to be confirmed by subsequent price action.
Related concepts
Support level
An area where a price decline may stop or trigger a reaction.
