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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.
4 comments:
why would we need more of it? gold is fungible, right?
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.
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.
okay... so the price goes up a lot... : ) I'd be happy with that!
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