The Analyst Who Knows 3 Times Said “2022 Will Be The Golden Year”!

According to the analyst, gold is getting ready to ‘make the show in 2022’. cryptocoin.com We zoom in on the views of analyst Mike McGlone of Bloomberg Intelligence. The analyst had previously attracted attention by knowing $ 10,000, $ 12 thousand and $ 50,000 in Bitcoin.

Gold hits the scene in 2022

According to Bloomberg Intelligence, after building support at $1,700 an ounce this year, gold could be the metal to watch in 2022. Mike McGlone, senior commodities analyst at Bloomberg Intelligence, said: “Next year will begin almost 24 months after the start of the pandemic. In addition, we risk a greater reversal to the 2021 jump in industrial metals versus the decline in precious metal (gold).” The top performers of 2021 will not be the best picks for 2022 as the economy continues to normalize. “Aluminum and copper are at the top of our 2021 scorecard, but 2022 is more likely to follow an ongoing transition to normal,” McGlone said in November metals. The treatment of higher prices should put pressure on gold versus industrial metals,” he wrote.

BTC relationship with gold

Bloomberg Intelligence analyst Mike McGlone said gold will continue to outperform silver and “steal the show” next year. The analyst said: “Silver fell short of 2021’s top metal performance, particularly as it failed to track copper, leading us to expect that the metal story of 2022 could be about gold.” “If copper and aluminum bounce back from nearly a decade high, there will be greater potential for gold to rise with bond prices. Copper basically needs to stay above $10,000 a ton as we’ve seen, or gold is poised to steal the show in 2022.”

Gold is still in its last bull market after hitting all-time highs in 2020. And that’s despite the consolidation pattern this year. “In 2021, gold is holding above the key pivot of around $1,700 an ounce from 2011-12. Unlimited supply and dependence on economies with rapidly increasing debt-GDP,” McGlone summed up. One of the biggest hurdles for gold is that it continues to hurt Bitcoin’s appeal. “Bitcoin may be doing to gold what gold is doing to silver,” McGlone wrote. “Just for the discipline of diversification and a potential paradigm shift in money in particular, we believe gold positions are increasingly looking bare if not paired with Bitcoin,” he added.

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