Gold and the S&P 500 are currently in a tight race.
For Bloomberg Intelligence analyst Mike McGlone, this translates into good news for the yellow metal.
“Running neck and neck with the S&P 500 in a tightening cycle should favor gold in most scenarios,” the commodities strategist wrote in a report released Friday.
… “With the record-setting stock market barely beating gold, the metal may be worthy of greater attention,” he said.
“Despite all of the attention on stocks, gold may be looking ahead to a more favorable endgame at a steep discount to historical highs with inflation brewing, a potential dollar peak and the lowest CBOE Volatility Index ever.