The Gartman Letter: Committing to Gold Depends on Currency Terms
Dennis Gartman is a preeminent expert on commodities and issues relating to the capital markets. He has been directly involved in the capital markets since 1974 and has been publishing his daily commentary, The Gartman Letter, since 1987. The following is a complimentary excerpt from the November 13th issue of The Gartman Letter.
As we watch the action in gold, we see no reason whatsoever to be committed bullishly of gold other than predicated in Yen terms, even then the trend is at best sideways and can be seen as having been quietly bearish since very early this year. Losing 5% on a position is a loss, isn’t it? Until the “True Believers” in gold have thrown up their hands in collective dismay we fear that the bear market in dollar predicated gold shall likely continue. We’ve nothing more than to say. That, we think, says it all.
The above communication is a publication of The Gartman Letter and is not intended to provide personalized recommendations to buy, hold or sell investments. The Gartman Letter’s information, statements, views, and opinions are based on internal and external sources considered by The Gartman Letter to be reliable, but The Gartman Letter makes no express or implied representation or warranty to those sources’ accuracy, completeness, or correctness. Such information, statements, views and opinions are expressed as of the date of publication, are subject to change without further notice, and do not constitute a solicitation for the purchase or sale of any investment referenced in the publication. Investors should verify all claims and conduct their own research before investing based on the above communication provided by The Gartman Letter.