Wikinvest Wire

Gartman on gold

Monday, October 26, 2009

Dennis Gartman of the renowned Gartman Letter talked with CNBC's "Fast Money" crowd last week on a number of topics, the most interesting of which was gold at about 2:40.

The idea of the "barbarous relic" becoming the world's reserve currency is interesting indeed, but you'd either need a lot more of it or it would have to be much higher in price. Gold bugs may be warming up to Gartman in light of a string of recent comments on the yellow metal.


Jones said...

why would we need more of it? gold is fungible, right?

fish said...

This is bad. The GATA guys use Gartman as a powerful contrarian indicator. If he's claiming gold could be the next world currency look for gold at $400.00 soon.

Tim said...

Yes, gold is fungible. It's just that Asian countries have very low gold reserves so either the price would have to go up a lot or we'd have to find more of it.

Re: Gartman - he's been all over the place on gold and may just wanted to be provocative.

Dan said...

okay... so the price goes up a lot... : ) I'd be happy with that!

  © Blogger template Newspaper by 2008

Back to TOP