‘Gold is not a store of value anymore’ — Mike McGlone predicts a 2008-like setup
According to the Bloomberg Intelligence strategist, the oil shock and rising volatility across commodities and crypto may foreshadow a broader correction in equities.
As the conflict involving Iran drags on and global energy supplies risk prolonged disruption, most financial assets are likely to behave like risk assets, according to Bloomberg Intelligence strategist Mike McGlone in a recent interview with Cointelegraph.
Despite major price swings across commodities, stock market volatility has remained relatively low, a divergence McGlone considers unsustainable. Historically, such imbalances tend to resolve through increased volatility in equities — often during broader market corrections.
That unusual volatility dynamic is also showing up in gold, a market traditionally viewed as a safe haven.