Alpha status vs. gold

Bloomberg Commodity Outlook/Mike McGlone

In a world of increasing uncertainty vs. the endurance of rising debt-to-GDP levels, quantitative easing and low interest rates, we believe gold is poised to maintain its 2020 upper-hand performance in 2021 vs. most commodities and assets.”

USAGOLD note:  We referenced this detailed analysis in yesterday’s Daily Market Report and repost it here for those who may have missed it. McGlone remains bullish on the precious metals for 2021. He likes the fact that gold corrected in the second half of 2020 and sees that correction as the launchpad for further upside. Put another way, McGlone sees current pricing as a buying opportunity.

Line chart showing the price of gold for one year through 2-3-2021

Chart courtesy of TradingView.com • • • Click to enlarge


Repost from 2-4-2021

Share
This entry was posted in Today's top gold news and opinion. Bookmark the permalink.