Hold Your Gold Until THIS Happens! Upcoming Gold Rally is Going to Shake the World – Mike McGlone

Hold Your Gold Until THIS Happens! Upcoming Gold Rally is Going to Shake the World – Mike McGlone

Mike McGlone, a top commodities strategy expert, currently holds the position of Senior Commodity Strategist at Bloomberg Intelligence. Mike McGlone observes a divergence in gold investment patterns as certain investors are selling gold ETFs while central banks, notably China, rapidly accumulate gold, as reported by the World Gold Council. Putting this observation into context, gold exchange-traded funds have experienced a decline this year after a 13% gain in 2024, as indicated by the performance of the GLD. Nevertheless, gold prices have maintained levels above 2,000 dollars, attributed to geopolitical tensions and expectations of lower interest rates, which have provided support to gold bullion.
While adding more depth to this narrative, data reveals that Chinese gold purchases surged by 30% in 2023. The country’s central bank strategically acquired gold to replace its dollar holdings amid tensions with the US. Simultaneously, individual investors sought the safe-haven appeal of gold as economic uncertainties unfolded. This data establishes a comprehensive picture of the evolving dynamics in gold investment, from investor behavior to central bank strategies and global economic influences.
In terms of the broader commodity outlook, Mike predicts gold will continue to excel, historically outshining commodities, including copper. According to an analysis by the World Gold Council, gold outperformed emerging market stocks, US bonds, the US dollar, global treasuries, and commodities in general.
He predicts that gold is ready for a significant upward move towards 3,000 dollars, with the key catalyst being a reversal in ETF flows towards inflows. Despite gold’s current stability above 2,000 dollars an ounce lacking strong bullish momentum, Citi forecasts significant growth potential for the metal, with a possibility of reaching 3,000 dollars per ounce in 12 to 18 months under a bullish scenario, while expecting an average of 2,150 dollars in late 2024 as a base case. Furthermore, he emphasizes the significant role of gold in global currency holdings, making up to 12%, while observing a gradual increase in its prominence.
Mike McGlone predicts a continued trend of de-dollarization and sees buying gold as a rational response to geopolitical uncertainties. Indeed, in the absence of any other contender for reserve currency status, countries diversifying away from the dollar have opted for gold. Accordingly, central banks have been buying gold at record rates in recent years, with the People’s Bank of China leading the way.
Regarding the leading driver for gold, Mike highlights the downturn of the US stock market’s performance. History shows that while the stock market declined, gold rebounded and ended the year up 5.5%. During the 18-month stock market selloff, gold rose more than 25%, emphasizing that gold can be a great buying opportunity even in the face of initial declines.

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I still look at in my broad commodity Outlook that Gold’s probably going to remain one of the best performers it’s certainly out and typically over time it has been outperforming most other Commodities most notedly copper on a one two five 10 maybe 20 year basis depending certainly on a total return

Basis but overall I think the key thing is um the bottom line for gold to really put distance above $2,000 an ounce um and move much higher is I think you’re going to need the US stock market people to start to realize okay it probably can go down and we

Probably will have a recession you know something we haven’t had I mean and stay down Mike McGlone a top commodity strategy expert currently holds the position of senior commodity strategist at Bloomberg intelligence Mike mcone observes a Divergence in Gold investment patterns as certain investors are selling gold ETFs while central banks

Notably China rapidly accumulate gold as reported by the world gold Council putting this observation into context gold exchange traded funds have experienced a decline this year after a 133% gain in 2024 as indicated by the performance of the GLD nevertheless gold prices have maintained levels above $2,000 attributed to geopolitical

Tensions and expectations of lower interest rates which have provided support to gold bullion while adding more depth to this narrative data reveals that Chinese gold purchases surged by 30% in 2023 the country’s Central Bank strategically acquired gold to replace its dollar Holdings amid tensions with the US simultaneously individual

Investors sought the safe haven appeal of gold as economic uncertainties unfolded this data establishes a comprehensive picture of the evolving Dynamics in Gold investment from investor Behavior to Central Bank strategies and global economic influences in terms of the broader commodity Outlook Mike predicts gold will continue to excel historically outshining Commodities including copper

According to an analysis by the world gold Council gold outperformed emerging market stocks us bonds the US dollar Global treasuries and commodities in general he predicts that gold is ready for a significant upward move towards $3,000 with the key Catalyst being a reversal in ETF flows towards inflows despite gold’s current stability above

$22,000 an ounce lacking strong bullish momentum City forecasts significant growth potential for the metal with a possibility of reaching $3,000 per rounds in 12 to 18 months under a bullish scenario while expecting an average of $2,150 in late 2024 as a base case furthermore he emphasizes the significant role of gold in Global

Currency Holdings making up to 12% while observing a gradual increase in its prominence now we present the clips of Mike mcglone’s insights from his recent interview with Sor financially before we continue to delve into this discussion please subscribe to our Channel and activate the Bell icon for timely

Updates investors have been selling gold ETF investors but the deepest pockets on the planet have been buying you central banks most noely China have been guy buying gold at a colossal Pace according to the world gold Council I do enjoy a lot of their reports I’ve been on their

Distribution list for at least a decade their quarterly reports and China is the largest buyer the significance for for that is I think um it’s looking forward to just a little bit of normal back and fill in the US Stock Market that’s apparently Unstoppable just a little bit potential that all this recession

Leanings we had last year which was too extreme and didn’t happen and now leanings this year are towards soft Landing it’s not going to have a recession and the fed’s going to ease that’s just starting to tilt back a little bit to me that’s going to be a

Story this year so I I still look at in my broad commodity Outlook that Gold’s probably going to remain one of the best performers it’s certainly out typically over time it has been outperforming most other Commodities most notedly copper on a one two five 10 maybe 20 year basis

Depending certainly on a total return basis but overall I think the key thing is um the bottom line for gold to really put distance above $2,000 an ounce um and move much higher is I think you’re going to need the US Stock Market people to start to realize okay it probably can

Go down and we probably will have a recession you know something we haven’t had I mean and stay down we haven’t had since bottom in 20 9 that’s a long time oh we’ve had these little Corrections and fed comes in and saves you but that’s what’s changed now um the fed’s

Just not going to ease with the ease they have in the past particularly because all the inflation they created with too much liquidity so that’s it was meant to be rhetorical but so I’ll end with this the key thing about gold is I think Gold’s ready to at some point it

Had at least one dip below 2,000 this year we all kind of had to expect that it might get more it might make it as difficult as possible but at some point I think it’s going to start off on a launch pad and head towards 3,000 I

Don’t know the time timing but I do know what the key Catalyst will be is um to get those ETF flows to tilt towards inflows total ETF Holdings have dropped to 83 million ounces that’s the same as January 2020 I mean that’s four years ago yet so we’ve had this period of gold

Going up and ETF outflows which is very rare so I think that’s going to flip at some point and just the me the point of the question was well for us investors who have to keep up with indices and who you know if you’re if you’re uh money

Manager or if you’re wealth advisor and if you’re you get fired if you don’t keep up with the stock index you just need a little flip in that it’s going to happen it always does where people start to give up in the stock market for a little while for normal recession and

Then I think gold will really win but I have to end with this if you look at the central banks buy but most of the central banks buying are the the access of bad guys of which China decided to go that way which is still the shock to the

System I’ve learned from an economist in the last century or so if you wanted to become wealthy in a country Coes up to United States States well they just tilted the wrong way certainly some of it I think as far as Global Holdings of currencies there’s the dollar there’s

The Euro and then there’s gold the top three gold is maybe what 10 to 12% and it’s increasing but the large holding of gold in the world are I’ve seen them at the Federal Reserve Bank in New York and it’s us us um government but I I still

Think it’s you got to be careful the world that’s a book I read recently called um capitalism without cast Capital about the whole tilt tour intangible assets I.E obviously what’s the most significant on the planet the US Stock Market and um crypto assets and things like that and there’s probably

Going to be a correction but in a modern world very financially stute Advanced World Is Still I think it’s the advance towards more intangible assets which the US most of the rest of the world is uh going for in digital and then the Old Guard like Russia and China are going

Forar gold Mike mllo predicts a continued trend of dollarization and sees buying gold as a rational response to geopolitical uncertainties indeed in the absence of any other Contender for Reserve currency status countries diversifying away from the dollar have opted for gold accordingly central banks have been buying gold at record rates in

Recent years with the People’s Bank of China leading the way regarding the leading driver for gold Mike highlights the downturn of the US stock market’s performance history shows that while the stock market declined gold rebounded and ended the year up 5.5% during the 18-month stock market sell-off gold rose more than 25%

Emphasizing that gold can be a great buying opportunity even in the face of initial declines let’s get back to the interview if you’re underweight equities and overweight gold you’ve been way underperforming and also there’s this pretty significant um cost benefit analysis of 5% T bills in the US the

Highest in what 15 almost 20 years almost 20 years I think it was 23 years at some point yeah well there you go I so it’s those are all bad for gold and there’s it makes sense there’s ETF outflows but what does not make sense is

The gold price of gold holding up and I think that’s significant because the physical buyers number one um China and you know kind of the the bad guys of the world China’s tilted towards kind of the bad guys Russia North Korea Iran and there’s many other buyers but um I don’t

Think that stops and there’s a pretty significant war going on there’s a lot of reasons to buy gold if there’s a historical measure but here’s the key thing I really enjoy pointing out Kai this is we are in the middle of a paradigm shift in the world order and

That is China’s I’m TR to say China I’m sorry with respect for China in its history president Z’s tilt towards unlimited friendship with um Vladimir Putin of Russia two people of great countries and they’re just tilting their countries the wrong way um and that is where that buying of gold is holding up

And makes sense the D dollarization there’s $300 million of Russian assets that have been seized by Western entities and makes a lot of sense that they would go to Old Guard gold but I think the key leading indicator is going to be US Stock Market going down I’ve

Been wrong um and that’s why I just look at it’s just teetering on just a little normal correction I have little indications like for instance there’s the S&P mini Futures I was at a hedge fund used to trade trade those a lot um they have left the gap down to about

4600 just put that in context right now the price right now is 4,900 so about 9% below that was back in December on this massive manic rally it’s never left a gap on a weekly chart since 1993 never it always goes back and fills them a few

Months later so that’s one of my little indicators of course we have this us election I think the market starting price for the potential for a trump presidency um the tariffs um drill it will in uh uh in in energy and crude oil but to me there there’s a good reason

But now I think we’re in that stage where it’s one of those periods where if you’re running money and you’re not keeping up with the indices you get fired because it’s the frenzy I remember seeing it in 20067 I was early I remember seeing in

99 2000 I was early then and we just have never had historical backdrop for what we have now which to me is most knowbly bullish for gold and very bad for Commodities since ancient times gold has been the go-to investment for protection in times of uncertainty whether economic hardship or security

Turmoil gold prices like many other Commodities will always fluctuate do you see gold as a resilient in investment in the face of economic uncertainties or do you have other perspectives on its future trajectory share your thoughts in the comment section below if you find this video informative don’t forget to

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