According to Mike McGlone, gold is now more likely to decline in value when the stock market goes down, indicating a positive correlation to risk assets.

Gold's valuation relative to a basket of treasuries recently reached a near 50-year high.

The previous year was the best performing year for gold since 1979.

Mike McGlone of Bloomberg Intelligence believes there is a risk President Trump might ban U.S. oil exports to pressure domestic prices lower.

Mike McGlone's investment strategy involves overweighting treasuries as a way to hide from market volatility.

Mike McGlone predicts that by the end of the year, the December crude oil contract is more likely to fall to $50 per barrel than rise to $100, associated with a 10-20% drop in the stock market.

At the end of February, gold reached its most expensive level ever relative to the Bloomberg Commodity Index.

Mike McGlone asserts that gold has transformed into a highly volatile risk asset, rather than a traditional safe haven.