Gold’s Doing What It’s Supposed To Do’ - Signals Shift Ahead Of Q3 | Mike McGlone
Gold’s Doing What It’s Supposed To Do’ - Signals Shift Ahead Of Q3 | Mike McGlone
Kitco News: 6-19-2025
Gold is hovering near $3,370 as investors weigh the Fed’s decision to hold rates, Trump’s tariff escalation, and rising geopolitical risk in the Middle East.
In this episode, Mike McGlone, Senior Macro Strategist at Bloomberg Intelligence, returns to Kitco News to break down what gold is really telling us - and why he says, “Gold’s doing what it’s supposed to do.”
Szafron and McGlone unpack the Fed’s stagflation dilemma, oil’s risk premium, the dollar’s vulnerability, and where smart money is rotating now.
Key Topics:
-Fed holds, inflation revised up, GDP forecast cut
-Trump attacks Powell, calls for 200bps cut
-Stagflation signals and Fed credibility risk
-Gold pullback: consolidation or exhaustion?
-Bitcoin rotation and ETF flows -Oil near $78
— Strait of Hormuz fears grow
-Commodities rotation and inflation protection
-Outlook for Q3 positioning: gold, oil, bonds, cash
00:00 Introduction
01:45 Fed's Position and Market Insights
03:08 Gold and Cryptocurrency Market Dynamics
14:49 Silver and Platinum Market Trends
17:10 Oil Market and Geopolitical Risks
20:58 Debt, Inflation, and Market Predictions