Mike McGlone: Beware the High Price Cure

In this in-depth interview, Michael Fox sits down with Mike McGlone, Chief Commodity Strategist at Bloomberg Intelligence, to explore the latest trends and challenges in the precious metals market. They dive into silver’s recent rally driven by gold, with Mike predicting silver could reach $50, though its gains are tempered by industrial demand. Copper’s bearish outlook takes center stage, with Mike warning that a drop below $4.60 per pound could signal global economic weakness. Gold’s bull market continues, with predictions it might hit $4,000 amid stock market volatility.

The conversation also covers how electric vehicle trends impact platinum, palladium, and silver prices, noting that while short-term factors may support platinum and palladium, the long-term shift favors EVs and their material requirements. They analyze the influences of tariffs on inflation and corporate margins and discuss significant global price discrepancies in copper markets, raising concerns about potential prolonged market shifts.

Finally, Mike addresses the risks political pressure could pose to the Federal Reserve’s independence during an increasingly volatile period, emphasizing caution ahead.

Tune in for a comprehensive outlook on precious metals, copper, EV-related trends, and the broader economic landscape affecting these vital commodities.