A “profound reversion cycle” is here, and the fourth quarter could set the tone for the next few decades, warns Mike McGlone, Senior Macro Strategist at Bloomberg Intelligence. McGlone tells Kitco News’ Jeremy Szafron that gold’s “scary” rally toward $4,000 is a major warning sign for the broader economy, pointing to a massive shift into gold ETFs this year after four years of outflows.
McGlone cautions that with stock market volatility near five-year lows, even a minor reversion could cause the “dominoes to tumble” for risk assets. He explains why he believes industrial commodities are vulnerable, forecasting that crude oil is in a “low price cure trajectory” that could see it revert toward $40 a barrel. He also explains why copper’s rally is at risk and why silver may continue to lag gold due to its industrial properties. Finally, McGlone breaks down why Bitcoin’s correlation to the stock market is at its highest ever, making it a clear risk-on asset in this environment.
Recorded September 30, 2025
Follow Jeremy Szafron on X: @JeremySzafron (
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Follow Mike McGlone on X: @mikemcglone11 (
00:00 – Market Meltdown? Shutdown Looms
00:22 – Gold Rallies, Industrials Plunge
00:53 – Mike McGlone: The “Great Reversion” Signal
01:21 – Gold’s “Scary” Rally Toward $4,000
01:55 – Why Low Stock Volatility Is a Major Warning
03:53 – Smart Money Pours Back into Gold ETFs
07:29 – McGlone’s Dire Forecast for Oil & Copper
11:45 – Silver: “The Devil’s Medal” Explained
14:59 – Are We Repeating the Crash of 1929?
17:06 – Bitcoin’s Dangerous Correlation to Stocks
23:31 – McGlone’s Final Warning for Investors
#Gold #Recession #StockMarket #MikeMcGlone #Commodities #CrudeOil #Investing #KitcoNews
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27 Comments
Mike McGlone is calling for a "profound reversion cycle," drawing parallels to 1929. What's the single biggest risk you see for the market heading into the end of the year?
Let us know in the comments below!
OCT. 15, 2025 and the price has continued to rise!
Gold and silver are now moving to their correct pricing after decades of manipulation by West. The Russian and Chinese metal exchanges are moving the metals to their correct levels. 14:39
Dont trust any of those experts. They are paid by billionaires to ENRICH THEM , NOT YOU
It’s just devaluation
Also known as inflation
the future is gold n silver
Mike your like a broken record, always wrong and on the wrong side. I guess sooner or later you may get it right!!!!!
US national debt is reaching sky high and US inability to pay back in real money. So US is coming up with a fiat gold for sale at US40000 in 10 years to attract foreign real money to buy fiat gold sold by US government and the fiat gold is used to pay back the debt to foreigners. The fiat gold has no value
America still produces the most pornography in the world
Trump … nuances? There's nothing nuanced about that man, all BS and bluster 😒
❤❤❤❤
The world is waking up. The USD is crap, Europe is phucked, the Middle East is about to crack up. US equities are bubbling on AI and totally unrelated to economy
crab , stupid , non sense , 😀
There are at least three important factors why gold is rising.
The first is that the new BRICS currency is once again pegged to gold.
The second reason is that the world has lost trust in America. Since the assassination of JFK, since people realized that America had built all of its past wars on lies, since the dollar no longer has any real value, since America became over-indebted, since America was responsible for the killings in Gaza, since America continually has statesmen liquidated by the CIA in order to install those aligned with them, since America was responsible for the war in Ukraine, since America blew up the Nord Stream pipeline…
The third is that there is no longer a safe currency in the West.
America is threatening the entire world with sanctions and excessive tariffs, and Microsoft, Google, and the like are elegantly evading taxes… America is threatening the world with World War III.
Overbought at $4k how about mentioning how absolutely insane it is that the stock market is thhe most overbought bubble in history… gold is CHEAP!!
Will hit 7k
In gold we trust
EVERYTIME SILVER ALMOST HITS 50 IT CRASHES!!!!!!! Happened twice before
Soooo…. oil and copper good buys or no?
Blah, Blah, Blah….ancient store of value…that says it all! The criminal enterprise labeled "The Federal Reserve", better know as the criminal banksters have kept us in this corrupt system of theirs for too long. Buy as much Gold and Silver as humanly possible before you start wallpapering the walls with fiat garbage.
Gold is real money , Free from any govt. Controls in the world. Gold production is Less and Demand is more .
Lol dis dude
A clear and conflicted signal like the effected frown I guess.Effected noise too?
'Inflation' is short for 'Inflation of the money supply,. The more that is printed, the less the actual value. You cannot print gold.
They are fighting you to keep it down as long as possible so that they can inflate dollah and stocks to take rest of the money from the 🐑
There is a month to month continual $30 billion short the FED has to buy based on paper losses of gold leases it needs to buy back as they don't have the gold. They leased the gold. There is a $9 trillion paper short they are on the hook for until the gold leases expire.
Its the worst of the worse scenarios. They don't have the physical gold only promissory notes it will be returned based on lease agreements.
If our observation is, "Gold is going up fast", it would be beneficial to check our thinking by reviewing some of the economic indicators published by the Federal Reserve on the "FRED" web site.
Specifically, make note of the M-2 money supply, and you'll find that the result of recent monetary turbo-printing (like in 2020) is that the world is awash in dollars, perhaps more now than ever in history.
Hence, as many market observers state….gold is NOT going up in dollar terms, but rather, every dollar in existence is rapidly losing value as the money supply is bloating like never before.