Silver Bug Profile: Mike McGlone

JP Buntinx
May 12, 2020

In the financial world, most people focused  on precious metals pay close attention to the gold price. Silver bulls are rarer to find, but they are worth listening to. Mike McGlone is one of those traders who seems to focus on silver at this time.

Who is Mike McGlone?

Financial enthusiasts who keep a close eye on the precious metals industry and commodity markets may know the name Mike McGlone. The Senior Commodity Strategist for Bloomberg has built up a strong reputation in the financial sector. His main focus lies with broad investable commodity markets.

Prior to his tenure at Bloomberg Intelligence, McGlone garnered over 15 years of experience in the futures and commodity trading industry. He also made ample investments over his lifespan, both personally and in terms of his job. Companies he worked for include the Chicago Board of Trade, ETF Securities, S&P Indices, and ABN Amro, to name a few. 

Mike McGlone the Silver Bull

Although one wouldn’t necessarily categorize McGlone among the Silverites of yore, it is evident that this analyst expects some big things for the silver market moving forward. Initially, he expected 2019 to be a breakout year for this precious metal, which was not far off the market. Prices of this commodity rose significantly, although the market has gone through a bit of a setback ever since. 

Moreover, McGlone made that analysis in August of 2019 based on the overall market patterns. Silver had sustained key levels above the 50-month average for the first time since 2013. As such, there would be – under normal circumstances – ample room for an extensive bull run for this precious metal. 

The big question is what will happen to silver following the coronavirus crisis. All markets have taken a beating ever since, yet precious metals tend to be far more resilient compared to other commodities. Given how the silver price used to be much higher several years ago, it is seemingly a matter of time until a new bull market emerges. 

A Promising Outlook for Commodities

As alluded to in his statements in 2019, there are still plenty of market circumstances that can work in silver’s favor. The ongoing quantitative easing by the Federal Reserve will force investors and speculators to diversify their portfolio. Precious metals, including silver, will likely see some prominent momentum once this shift begins to take place.

It is also possible that the gold-to-silver ratio will undergo some major changes moving forward. Although gold recently rose to a new high compared to silver, it would appear that some change may occur a lot sooner rather than later. As of right now, the ratio sits at 109.56, yet has shown ample signs of drifting lower. It has come down a lot from the high of 124, thus it will be interesting to see what happens in the coming weeks and months.

Easily open your Swiss tax free gold vault in under 6 minutes

It’s Free to open a Swiss vaulting account, you can buy and sell gold directly to it instantly.

0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Gold bug Profile: Egon von Greyerz

In fact, von Greyerz was confident that allocating up to 50% of one’s portfolio to gold and silver could pay off handsomely. He certainly got that sentiment right

Gold Bug Profile: Mike Maloney

More importantly, his expertise led him to gold and silver. Back in 2002, both of these assets were severely undervalued in his personal opinion.

Silver Bug Profile: Jim Rogers

The dollar is, according to Jim, not a safe-have, and should be traded in for more stable long-term investments such as silver and gold.

Gold Bug Profile: Peter Schiff

Despite paying very close attention to investment options such as gold and silver, Peter Schiff isn’t optimistic about Bitcoin and other cryptocurrencies.

Gold Bug Profile: Porter Stansberry

Porter Stansberry has a very rich history. He too got involved in the financial industry at one point, and seemingly never looked back.

BofA Analysts Project a Silver Price of $30 as US Dollar Keeps Weakening

Contrary to what most people expected, the US Dollar is not performing all that well. The greenback is losing value against all major currencies.

Indian Officials Confiscate 9.3kg of Gold From Smugglers

What is rather interesting is how all of these bars have forged foreign markings. The objective of the individuals was to sell it in Mangaluru and districts of North Karnataka

Safe Payment Methods During the #Coronavirus Crisis: Cash vs Payment Cards

In this modern day and age, payment cards are very popular. In a lot of countries, cards still have to be handed from customer to cashier and back again. Handling payments in this way can in theory, result in a further spreading of COVID-19.  Utilizing this payment method is prone to the same “risks” as paying in cash.

Gold Bug Profile: Eric Hommelberg

In the Dutch community, Hommelberg made a name for himself by highlighting several junior gold mines as possible investment options. Those who followed his advance often made a lot of good money in the process

Is Silver Really Scarce?

More importantly, the mining of silver keeps ramping up. Breakthroughs in technology have allowed for far more efficient and streamlined mining operations. This further reduces the cost of extracting the ore.

Gold Bug Profile: Thomas Kaplan

The first link with precious metals became apparent in 1993. At that time, Kaplan founded Apex Silver Mines, taking up the role of chairman and chief executive officer.

Welcome To The New Bar9 Rebranding

To all Bar9 customers, I'm proud to announce the rebranding of Bar nine and a whole new informative front end. As we move into 2020 Bar9's mission is to make it easier for anyone to move in and out of physical hard assets and become a little more bank independent. The...

Gold and Silver Premium Prices Spike in Singapore and Hong Kong

Obtaining physical gold isn’t the only problem. Those businesses requiring a steady supply of silver are in an even bigger pickle right now

Silver Bug Profile: James Turk

Ever since retiring from his last position in 1987, James has been able to keep himself busy. Not only has he worked on The Freemarket Gold & Money Report, but also wrote several books.

Gold Bug Profile: Crispin Odey

Over the years, the name Crispin Odey was often named in association with gold and other precious metals. Particularly during the coronavirus crisis, Odey expected the value of gold to move up again.

Where to Store Gold: Switzerland vs America

Savvy investors will already choose physical gold to avoid the counterparty risk of futures accounts, ETFs, and other forms of paper gold. But the jurisdiction of gold storage represents another, often overlooked counterparty risk.  When disaster strikes and the...

5 Reasons why Investing in Physical Gold is Always Worthwhile

Regardless of buying digital or physical gold, this precious metal is always worthwhile to investors. It is one of the few markets that offers key advantages one will rarely find in other assets.

How do Silver Ions Kill Bacteria?

Silver has been used in wound care for decades. It is primarily used in wound dressings, as it helps clean out the wound and allow for it to recover bacteria-free.

Silver and Gold Prices Move up Strongly as More Mining Operations Shut Down

The McEwen Mining group operates multiple mines all over the world. One of their biggest ventures is located in San Jose, Argentina. The local Black Fox mine is now suspending operations due to the coronavirus crisis.

Silver Bug Profile: Mike McGlone

The Senior Commodity Strategist for Bloomberg has built up a strong reputation in the financial sector. His main focus lies with broad investable commodity markets.

Translate Blog Post

Article Categories

Blog Stats

  • 112,974 hits

Follow the CEO on Twitter

%d bloggers like this: