Bloomberg Intelligence Strategist Says Gold Could Climb to $4,000
Mike McGlone, Bloomberg Intelligence’s senior commodity strategist, predicts that gold’s current rally may just be the beginning of bullion’s rise and that the precious metal could be headed to a price of $4,000 for each ounce. Speaking during an interview, McGlone revealed that his prediction is premised on the observation that the stock market is in the initial stages of a bear market. This market shift, he says, supports precious metals. He adds that gold is consolidating itself around the $3,000 price point and it is just a matter of time before it enters $4,000 territory. Any price movements between…
