In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that investors should shift towards risk-off assets, predicting that gold could rise to $3,000 an ounce amid ongoing economic instability. McGlone also pointed to U.S. Treasury bonds as essential components of a defensive investment strategy.
Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000
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