Social•Feb 20, 2026
Gold's Parabolic Surge May Be Overheated, Reversion Likely
The Rock May Be Too Hot - Gold vs. Commodities - Inflation is notably absent from gold's parabolic rally, which may suggest a too-hot rock if history is a guide. From a base of 100 in 1964, gold in terms of the Bloomberg Commodity Spot Index is about 373 on Feb. 19 -- the highest ever by a wide margin. It might require a rare combination of unlikely underpinnings to maintain the metal at such extremes vs. broad commodities. My bias leans with the invisible hand pressuring some reversion -- typically a matter of time and formation of an apex. Full report on the Bloomberg here: https://t.co/yN9RywB0ca {BI COMD} #gold #commodities @markets
By Mike McGlone