Bloomberg: Gold and Silver May Have Peaked Relative to US Treasuries, Precious Metals Trend Faces a Turning Point

BlockBeats news, October 26 - Bloomberg Intelligence analyst Mike McGlone stated that gold prices have fallen back to support levels near $4,000 per ounce, while silver is approaching $50 per ounce, but their performance relative to US Treasuries may have reached extreme levels not seen in about 40 years, and the trend of precious metals relative to US Treasuries may have peaked.

McGlone pointed out that interest rate hikes by most central banks, as well as some degree of pullback and volatility in the US stock market, could drive a shift in the performance of precious metals relative to US Treasuries. In contrast, US Treasuries and Treasury bills with yields near 5% may regain appeal.