Mike McGlone: Gold Could Crash Below $3,000 as Stocks Collapse

Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Mike McGlone of Bloomberg Intelligence joins Darrell to discuss why he believes the biggest risk facing metals, crypto, and commodities is still the U.S. stock market. Mike explains why 5% Treasury yields are becoming increasingly attractive, why he sees gold, silver, copper, and Bitcoin as highly sensitive to any equity-market correction, and why a normal post-inflation deflation cycle could pressure risk assets further. He also shares his outlook for crude oil, TLT, recession risk, and why he believes Treasuries may offer one of the more compelling setups in today’s market. Follow Mike: https://x.com/mikemcglone11   / mike-mcglone-a8442513   https://www.bloomberg.com/professional/ Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram:   / vric_media   Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.c... Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why Mike turned bearish on metals 1:37 Why 5% Treasury yields matter 2:24 Metals are becoming “stock puppets” 4:56 Why the election could pressure energy prices 7:30 Energy crisis, rate hikes and deflation risk 8:04 Where Mike sees opportunity now 9:25 Why Treasuries compete with risk assets 10:56 Is the 60/40 portfolio really dead? 12:59 Can the government tolerate higher yields? 14:21 Why Mike is scaling out of risk assets 15:15 What could finally stop the Fed from hiking? 17:30 Is TLT becoming a contrarian opportunity? 19:13 What would confirm the Treasury trade? 20:09 TLT versus simply holding cash 21:02 Why “buy the dip” could eventually fail 22:52 What performs best in a recession? 24:10 Mike’s downside targets for oil and gold 25:31 Why $4,000 gold may not hold 27:33 What Mike would buy after a major correction 28:12 Why Mike still sees Bitcoin at $10,000 29:56 Why crypto excesses still need to be flushed 31:32 The market test Bitcoin hasn’t faced yet Copyright © 2026 Cambridge House International Inc. All rights reserved.