Mike McGlone – DIGIT INFO

Mike McGlone — Hedge Funds Push Gold Toward $3K Amid Global Market Uncertainty

DIGIT — Wed, 25 Sep 2024 19:46:22 +0000

In a recent interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, emphasized the significant role of hedge funds in gold’s ongoing price surge. McGlone shared his insights on the impact of macroeconomic factors, including China’s economic slowdown and the Federal Reserve’s monetary policies, on the commodities market. Gold Eyes $3,000 Mark Amid Hedge Fund […]

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Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000

DIGIT — Fri, 09 Aug 2024 17:40:51 +0000

In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that […]

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Bloomberg Strategist Sees Bitcoin as Global Alternative Currency — Warns Stock Market Drawdown Could Impact BTC

DIGIT — Sat, 02 Mar 2024 01:05:05 +0000

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, says bitcoin is “becoming an alternative currency on a global basis,” noting that “The world’s going towards intangible assets and bitcoin is the most significant in cryptos.” However, the strategist warned that as bitcoin’s price approaches $70,000, a key test for the cryptocurrency may come “when the U.S. […]

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Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’

DIGIT — Fri, 21 Apr 2023 01:15:02 +0000

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, the Fed has already been easing, and they’re still vigilant against that,” he cautioned. Strategist […]

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Bitcoin ‘faces headwinds’ as US money supply drops most since 1950s

DIGIT — Thu, 06 Apr 2023 17:30:11 +0000

Research from Bloomberg Intelligence argues that liquidity conditions still do not favor a continuation of the Bitcoin rally.

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Bitcoin ‘untouchable’ amid regulatory pressures, says analyst

DIGIT — Tue, 04 Apr 2023 03:40:47 +0000

Bitcoin is “untouchable,” because it’s more decentralized than other cryptocurrencies in the space such as Ether according to senior commodity strategist Mike McGlone.

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Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone

DIGIT — Thu, 23 Mar 2023 05:05:03 +0000

Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, bitcoin’s volatility is more likely to recover compared to commodities when the crypto “heads toward […]

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Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains

DIGIT — Sat, 18 Mar 2023 18:30:13 +0000

At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes at a time when confidence in the global banking system is at an all-time […]

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Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold’s Rise Above $2,000

DIGIT — Fri, 24 Feb 2023 22:00:23 +0000

This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a key ingredient to force the U.S. Federal Reserve to pivot its stance […]

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Market Strategist Predicts Gold Will Be the Top Performer in 2023 Over Cryptocurrencies and Equities

DIGIT — Sun, 05 Feb 2023 19:00:40 +0000

Gareth Soloway, president and chief market strategist at inthemoneystocks.com, predicts that gold will outperform cryptocurrencies and equity performances in 2023. In an interview published Thursday, Soloway emphasized his belief that “gold will be the best performer” this year and stated that the U.S. Federal Reserve will not cut rates until a “massively nasty recession” occurs. […]

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