'Gold is not a store of value anymore' — Mike McGlone predicts a 2008-like setup
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مدعوم بالذكاء الاصطناعيBloomberg Intelligence strategist Mike McGlone predicts a 2008-like setup due to the oil shock and rising volatility across commodities and crypto, potentially foreshadowing a broader correction in equities. This forecast suggests a bearish outlook for equities and possibly a shift in investor sentiment towards safer assets. McGlone's statement that 'Gold is not a store of value anymore' may indicate a change in traditional safe-haven asset dynamics.
The predicted broader correction in equities could lead to a decline in stock prices, potentially benefiting traditional safe-haven assets, although McGlone's statement casts doubt on gold's role as such. This could lead to increased volatility across markets, with possible capital flows out of equities and into other assets, such as bonds or alternative investments.
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According to the Bloomberg Intelligence strategist, the oil shock and rising volatility across commodities and crypto may foreshadow a broader correction in equities.
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