Market News
Gold Can Get to $4,000. Here’s How. - BARRON'S
Gold prices retreated on Friday, but not dramatically, with the Comex front-month contract declining 0.8% to $3,020. The yellow metal could zoom all the way to $4,000 if investors continue to lose their appetite for risk, which would mean ditching assets like stocks and cryptocurrencies, and redirecting that money into gold and Treasury bonds, according to a note Friday from Bloomberg Intelligence Strategist Mick McGlone. “The key competitors for gold, at least for the past few years, have been the strong rise in U.S. stocks, the rise in U.S. bond yields, and the rise in digital gold—that is Bitcoin,” he said in a phone interview.
