Mike McGlone predicts that gold has lost its value storage role, similar to the 2008 financial setup

Mike McGlone, a strategist at Bloomberg Intelligence, believes gold has lost its status as a store of value. He notes that ongoing volatility in commodities and energy may foreshadow corrections in financial markets, similar to conditions before the 2008 crisis.

In addition, McGlone posits that Bitcoin (BTC) might serve as a leading indicator for global risk assets, particularly as the market experiences increasing volatility, which traditionally signals downturns in the equities market.