The price of gold (GC=F) continues to rise as volatility (^VIX) and uncertainty mount across traditional equity markets (^DJI, ^IXIC, ^GSPC). While the commodity is up 30% compared to this same time last year, is there more room for gold to grow?

Bloomberg Intelligence senior macro strategist Mike McGlone joins Wealth! to give insight into the movements in gold and the commodity market at large.

"Gold is indicating there's bigger problems with the macro economy on a year to date, one year, two year and three year basis. The rock is beating stocks. It's beating the S&P 500 total return. It means something," says McGlone.

McGlone believes that gold will eventually reach $3,000 per ounce.

"When we have some further back and fill in the stock market, the mantra I've been saying for almost two years now is 'why buy gold with US Treasury T-bills at 5% and the stock market on a tear?' Well, that seems to be shifting in one key indicator is volatility."

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Nicholas Jacobino