RE:Nickel has quietly slipped below $14News Bites Commodities at risk of reversing massive gains with 'wild run' similar to 2008, gold price to take on $2k - Bloomberg Intelligence Anna GolubovaWednesday May 04, 2022 13:19 Kitco News (Kitco News)The commodity market is at risk of a reversal that will be a volatile ride similar to 2008, according to Bloomberg Intelligence. In this scenario, gold looks like one of the best options, with the ability to breach $2,000 once markets identify the end of the Federal Reserve rate-hike cycle. "Commodities are at increasing risk this year of a wild ride akin to 2008, a development that may shine on gold," Bloomberg Intelligence senior commodity strategist Mike McGlone said in his May outlook report. "Commodities climbed 50% in the past 10 years and the Producer Price Index is up 30%. Gains are likely to recede as the world faces a potential recession and the Fed tightens the reins Rate hikes should coincide with peak inflation."