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Prospector News Podcast – Mike McvGlone “Last Year They Laughed at My $3000 Gold Prediction. This Year they Aren’t Laughing as Hard”
On location at the Current Trends in Mining Finance Conference put on by the NY Chapter of the SME, Michael Fox is joined by Mike McGlone Senior Commodity Strategist at Bloomberg Intelligence. We discuss the drivers behind the movement of not only gold but also the industrial metals since the early Spring. Mike’s take is that the industrial metals are catching up to gold which until recently was the only metal to reach a new high (Copper has done so ass well in the past couple of weeks) He states that Gold is tied to Beta (The S&P) and as stocks correct downward in the coming weeks this should propel gold and by default the rest of the metals.
Posted June 11, 2024
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