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Add as a preferred source on GoogleMcGlone Says Gold and Silver May Have Peaked Against Treasuries
Gold has pulled back to support near $4,000 an ounce, while silver is close to $50.
Bloomberg Intelligence analyst Mike McGlone said gold and silver may be nearing a turning point in their performance compared with U.S. Treasuries. He described the metals’ relative performance as reaching an extreme last seen about 40 years ago.
Gold has pulled back to support near $4,000 an ounce, and silver is close to $50. McGlone said rate increases by most central banks, along with a pullback and uneven trading in U.S. stocks, could shift how the metals perform against Treasuries.
Yields near 5% on U.S. Treasury securities and Treasury bills may make the debt more appealing again, McGlone said.