According to Bloomberg intelligence, the commodity market is facing the risk of reversal, which will be a turbulence similar to that in 2008.

In this case, gold seems to be one of the best choices. Once the market determines that the Fed's interest rate hike cycle is over, gold has the ability to exceed $2000.

Mike McGlone, senior commodity strategist at Bloomberg intelligence, said in his outlook report in May: "commodities are facing increasing risks this year,

There may be a crazy rise like that in 2008, which may have an impact on gold. Over the past 10 years, commodity prices have risen by 50 per cent and the producer price index (PPI) has risen by 30 per cent. As the world faces a potential recession and the Federal Reserve tightens policy, the increase may fall. "

Crude oil is one of the commodities that rose sharply due to geopolitical uncertainty and supply concerns, but it may reverse the rise, falling from about $100 to $50 a barrel. Crude oil peaked at about $145 a barrel in 2008.

He said, "we believe that the crude oil price of about $100 per barrel at the end of April is more likely to fall back to $50 per barrel than $150 per barrel.

US $50 is the average level since the sharp fall in oil prices and US production costs in 2014, while US $150 may lead to a global economic recession. "

The gold market looks stable. McGlone pointed out that once the market determines that the Fed's interest rate hike cycle is over, the gold price may break through the key psychological threshold of $2000 per ounce.

Against the backdrop of the downgrade of the global gross domestic product (GDP) rating and the decline of the stock market, the appeal made by the Federal Reserve is not conducive to the prices of copper and other industrial metals,

The end result seems to be good for gold. When federal funds futures begin to expect the end of the interest rate hike cycle, precious metals should break through the resistance level of $2000 per ounce.

The last time the gold price hit the bottom was in 2015, when the market expected the end of the interest rate hike cycle. According to the report, this is likely to happen in 2022.

The gold price base is currently around $1800 per ounce, and the key resistance level is $2000. The senior strategist pointed out that it was only a matter of time before the gold price broke through this resistance level.

"One of the biggest potential catalysts is that the Fed's interest rate hike is expected to fall to the bottom, which may not appear until the stock market falls further," he said