Dennis Gartman : "People said I turned Bearish of Gold Which Wasn't True--I Simply Turned Neutral" Dennis Gartman said last week on CNBC that he sold most of his Gold and that Gold 'Bull' is Dead .Dennis Gartman, The Gartman Letter, explained why he is calling the start of a real bear market in gold, but now Dennis Gartman says that he remains neutral on the precious metal
Not a comment to this video, but silver has not bottomed out. I see silver to go possibly all of the way down to $20. It depends how long the euro can stay weak . Cause when the euro does poorly it makes our bonds look like a safer asset, therefore foreign investors start to invest in the dollar more. When this happens the value of the dollar increases and the price of commodities decrease. So when the euro collapses the value of the dollar will seem like the only safe monetary asset other than chinese currency. So when investors start to invest in the dollar more commodities go even further down, but when our debt catches up to us investors will not look at the US as a safe asset so they will start to invest in commodities. That is when the price of silver, gold, platinum, copper, oil, etc. will skyrocket. But the prices depend on how long investors look at the US as a very safe asset.
ReplyDeleteThat's ok for you guys. I bought when everyone was talking silver up and then lost 15% two days later. So I am buying dried and tinned food. You can't eat silver and no amount of it will be enough when there is no food.
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