Is the bull market in gold, silver, Bitcoin and commodities over? In this interview, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone shares his bearish 2026 market outlook, warning about a potential US stock market correction, deflation, rising interest rates, elevated valuations, and the risks facing precious metals, cryptocurrencies and copper. He explains why he believes Bitcoin could fall to $10,000, why US Treasuries may offer better diversification, and why investors should pay close attention to the Federal Reserve, Treasury yields and the S&P 500.

🗓️ Recording date: October 27, 2026

📖 Chapters
0:00 Intro
00:25 — Mike McGlone's Contrarian Market Outlook
01:02 — Have Gold, Silver, Bitcoin and Commodities Peaked?
04:05 — Are Commodities Still a Reliable Portfolio Hedge?
06:44 — Rising Treasury Yields: A Warning for Investors
07:54 — Deflation: The Biggest Macroeconomic Risk?
09:00 — Gold's Historic Rally and the Risk of a Major Reversal
11:30 — AI Valuations and the Risk of a Stock Market Bubble
13:59 — Is the US Housing Market in a Bubble?
16:05 — Copper Price Forecast: Could Copper Fall 40%?
18:15 — Mike McGlone on Uranium and Nuclear Energy
18:42 — Where Should Investors Look for Diversification?
21:46 — Stock Market Correction or Financial Crisis?
23:41 — Is Cash King Again? Mike McGlone's Final Warning