The Gartman Letter: Turning Quietly More Bullish of Gold
Dennis Gartman 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 an excerpt from today’s The Gartman Letter.
We are turning quietly more bullish of gold than we have been in some while, simply because it does appear that not only is the Fed likely to remain on hold avoiding any reduction in the sum of accommodation provided but there is the possibility that the sum may actually be increased rather than decreased in the weeks and months ahead. Too, the ECB may have to err more forcibly toward easier policies and may be pushed to actually use its OMT capabilities. Finally the BOJ has no choice but to err in expanding its balance sheet. All told, monetary expansion is the order of the day rather than contraction.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.