Bloomberg strategists warn that gold may fall from its $6,000 high to the $4,000 support level.

PANews reported on February 5 that Mike McGlone, senior market strategist at Bloomberg Intelligence, warned that while gold prices may surge to $6,000, they are more likely to fall to the $4,000 support level, while silver may drop back to $50.

McGlone points out that gold's recent parabolic rise may suggest this year is the year the market will peak, and its valuation is already too high relative to commodity indices and inflation levels. He believes that the gold/S&P 500 ratio shows that gold still has diversification value, but the bullish momentum in the stock market may put downward pressure on gold prices.

He also mentioned that the gold-silver ratio for silver has returned to normal, currently at 56.6, and may further decline to $50 in the future. Investors should be wary of potential volatility and correction risks in the precious metals market.