Oil-Gold Price Gap Signals Recession & $4k Gold- Bloomberg’s Mike McGlone – KITCO

In an eye-opening analysis provided by Mike McGlone of Bloomberg – KITCO, the increasing price gap between oil and gold not only suggests an impending recession but also envisages the gold price shooting up to $4,000. This phenomenal surge is reportedly linked to the economic uncertainties brought about by the volatile interchange between the two commodities.nnA historical assessment of oil and gold prices shows a direct relationship between a widening price gap and recession periods. As the disparity between the two prices widens, it signals economic instability, triggering investors’ flight to safety, with gold being the preferred choice.nnIn treading these precarious waters, Mike McGlone sees an inevitable leap in gold prices, projected to hit an unprecedented $4,000 mark. This scenario underscores the redefined importance of gold as a safe investment asset in the face of economic downturns. Read More