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Bloomberg Strategist: Gold's Top Signal Reappears, Potentially Triggering a "Mean Reversion" Decline in U.S. Stocks
ME News, on April 11 (UTC+8), Bloomberg senior commodities strategist Mike McGlone posted on the X platform that historical experience shows that when gold tops after a rapid rise, U.S. stocks often fall accordingly. His analysis indicates that the current gold price has risen to about 1.9 times the 20-quarter moving average, higher than the roughly 1.7x peak level in 2008. If gold reverts to its long-term average, the S&P 500 may face around 25% downside pullback; while in 2008, a similar situation led to declines of about 60%. With both gold and the stock market currently at elevated levels, driven by factors such as the global energy crisis, even mean reversion at this stage could create downward pressure on the U.S. stock market. (Source: PANews)