Bloomberg Intelligence analyst Mike McGlone said gold and silver may be peaking relative to US Treasuries at what he described as roughly four-decade extremes.
McGlone’s relative-value argument
In an October 26 post, he described gold as retreating toward support near $4,000 an ounce and silver near $50. He contrasted that backdrop with Treasury bonds and notes yielding near 5%. Those figures reflect his post’s market snapshot.
McGlone said rate increases by most central banks, with China a notable exception, and some consolidation in US stocks could turn the relationship between precious metals and Treasuries.
His original post is also readable through a public mirror.
Source: BlockBeats, 2026-10-26 10:25:29 UTC.