Strategist names the only asset to benefit from gold’s rising prices
Gold’s record-setting surge in 2025 may be signaling a shifting tide across global markets, one that favors the U.S. Treasury bonds over equities. According to Bloomberg Intelligence senior commodity strategist Mike McGlone, the improving performance of long-term Treasuries, represented by the iShares 20+ Year Treasury Bond ETF (TLT), could be a direct beneficiary of gold’s strength, he said in an X post on October 14. To this end, Bloomberg Intelligence data shows TLT steadily appreciating through 2025, while the SPDR S&P 500 ETF Trust (SPY) has struggled to sustain gains. U.S. TLT price chart. Source: Bloomberg Intelligence The S&P 500’s 90-day volatility index, after remaining unusually low for most of the year, has begun to rise, suggesting that calm conditions in the equity market may be giving way to renewed turbulence. “Rising Gold May Buoy Bonds vs. Stocks Gradually, then suddenly may describe the improving performance of US Treasury bonds...