Mild or Deep Recession, $2,000 Gold Looks Low, $50 Crude High – With a US #recession a near certainty in 2023, the question of its severity may be less significant than an inevitable #Federal Reserve shift toward easing, with implications for #crudeoil, #commodities and #gold pic.twitter.com/9zluE20krh
— Mike McGlone (@mikemcglone11_) January 14, 2023
$2,000 Gold May Be Too Low vs. Typical Recession –
If Bloomberg Economics is right and the US enters a #recession in 2023, #gold may be a top performer. The period of global economic malaise looks to us like it will be severe and enduring. pic.twitter.com/vj10nNVpkd— Mike McGlone (@mikemcglone11_) January 14, 2023
Powell's Mission Already Completed? Gold vs. Crude –#Gold may have bottomed vs. #crudeoil, particularly if the US enters a #recession in 2023 and #bond yields decline. Bloomberg Economics' recession probability model is 100% for the next 12 months, implying yields have peaked pic.twitter.com/cp0L2pbZg3
— Mike McGlone (@mikemcglone11_) January 14, 2023