Dennis Gartman, editor of The Gartman Letter, talks gold on Kitco News. According to Gartman, he turned "watershed" bullish on gold 2 to 3 weeks ago. Prior to his shift, Gartman was "agnostic" to the gold market. Gartman argues that several factors signal a bullish move for the yellow metal. "The fed has no intention of reducing the size of its balance sheet between now and the next 2 years," he added. With regards to silver, Gartman prefers gold due to its lower volatility. Tune in now to hear why he has shifted his views on the metal and leaves silver to the "young and foolish." Kitco News, July 23, 2013.
Showing posts with label Dennis Gartman. Show all posts
Showing posts with label Dennis Gartman. Show all posts
Tuesday, July 23, 2013
Thursday, July 4, 2013
Dennis Gartman 'Watershed' Shift on Gold
Investor psychology had become so overwhelmingly one-sided in gold, Dennis Gartman of The Gartman Letter says.
the gartman letter. when we spoke last week you were overly negative on gold. what happened since then that causes you to make what you are saying is a water shed moment to go the other way? what did you see? as markets change it's always a technical circumstance, rarely is it fundamental change that gives you a shift in sentiment. you had ab jekt panic, throwing overboard of positions. you had the commercials on the future's market having their smallest net short position almost to the point of being net long that we've seen in many, many years. you had market vains bullish number lower than we've seen in several years and gold down 27%. when you read the newspapers all you got were bearish implications for gold. that's the sense that gives you a turn around and i think you've had it. you're talking about technicals and saying the fundamentals had to have changed. we sat on the desk last monday and you said gold is going dem on stra blee lower. you said there's no more easy monetary policy and you said other commodities are falling and they're falling on the back of zero global demand. i'm curious what the call is. tim, you did go lower from last monday until thursday you went 85, 95 lower. what has changed fundamentally? probably nothing. but you did have a technical circumstance that changed. i'll pay attention. i've been at this a long time. i want to see the technical sirkz that changed. that's the first things that happens. the fundamentals will follow later. and perhaps i'm wrong, i have been wrong before, i could be wrong again. i think what happened on monday -- so i agree with you. the psychology last monday night and that's why i think it's important we tell people that monday night people thought the world was coming to an end, the fed was running out the door. that was an overreaction. and that didn't happen. i think it's important that with gold and things that are so fed driven and sentiment has been so moved by the fed that are we saying that the fed is now out of the picture? i'm curious if that's implied in what you're doing. the fed is going to be out. the fed has told us they're going to be out of the picture but the fed is not going to be out of the picture in september. the fed is not going to be out until the end of the 2015. the monetary bases is increasing. it's bortherred me how severe has been the increase in the monetary base over the course of the last six months. the fed is still there. i don't think this is going to be an inflationary circumstance. i think all you have is to gold is another currency. it's ancillary to the dollar. the dollar is number one. gold is probably the second most important currency in the world right now. you and i got into a discussion last monday about the aussie. it's absolutely where it was last monday. i'm bullish. you're bearish and we are dead break even. i will tell you i actually said said -- the aussie is oversold. it goes to 9350 and i sell it again. dennis, what is water shed mean in terms of dollar terms? where does gold then go between now and the end of the year and also because sentiment was so negative don't you worry at least somewhat that you're get selling into any strength that we see and that's go going -- you got up to 1260 at one time. you broke it back down. there's going to be sellers of the gold on any rally. that's normal. i use the term water shed very rarely. it's the term i use when i'm making a change in sentiment. where does it go from here? higher, probably several hundred dollars higher. the risk reward is probably to the down side $75. to the upside 3 or $400 higher. so at 1255 you wouldn't be surprised to say by the end of the year we're at 16? is that doesn't seem that far fetched? that doesn't seem far fetched to me at all. that would still be $300 lower than its high. if i'm going to be bullish of gold i'm going to be a buyer of gold and a seller of yen. if you had done that over the course of the last two and a half years you're down. if you bought gold in yen terms you're down two percent. that's a good overperformance. because we know that opinions in position can change you told
the gartman letter. when we spoke last week you were overly negative on gold. what happened since then that causes you to make what you are saying is a water shed moment to go the other way? what did you see? as markets change it's always a technical circumstance, rarely is it fundamental change that gives you a shift in sentiment. you had ab jekt panic, throwing overboard of positions. you had the commercials on the future's market having their smallest net short position almost to the point of being net long that we've seen in many, many years. you had market vains bullish number lower than we've seen in several years and gold down 27%. when you read the newspapers all you got were bearish implications for gold. that's the sense that gives you a turn around and i think you've had it. you're talking about technicals and saying the fundamentals had to have changed. we sat on the desk last monday and you said gold is going dem on stra blee lower. you said there's no more easy monetary policy and you said other commodities are falling and they're falling on the back of zero global demand. i'm curious what the call is. tim, you did go lower from last monday until thursday you went 85, 95 lower. what has changed fundamentally? probably nothing. but you did have a technical circumstance that changed. i'll pay attention. i've been at this a long time. i want to see the technical sirkz that changed. that's the first things that happens. the fundamentals will follow later. and perhaps i'm wrong, i have been wrong before, i could be wrong again. i think what happened on monday -- so i agree with you. the psychology last monday night and that's why i think it's important we tell people that monday night people thought the world was coming to an end, the fed was running out the door. that was an overreaction. and that didn't happen. i think it's important that with gold and things that are so fed driven and sentiment has been so moved by the fed that are we saying that the fed is now out of the picture? i'm curious if that's implied in what you're doing. the fed is going to be out. the fed has told us they're going to be out of the picture but the fed is not going to be out of the picture in september. the fed is not going to be out until the end of the 2015. the monetary bases is increasing. it's bortherred me how severe has been the increase in the monetary base over the course of the last six months. the fed is still there. i don't think this is going to be an inflationary circumstance. i think all you have is to gold is another currency. it's ancillary to the dollar. the dollar is number one. gold is probably the second most important currency in the world right now. you and i got into a discussion last monday about the aussie. it's absolutely where it was last monday. i'm bullish. you're bearish and we are dead break even. i will tell you i actually said said -- the aussie is oversold. it goes to 9350 and i sell it again. dennis, what is water shed mean in terms of dollar terms? where does gold then go between now and the end of the year and also because sentiment was so negative don't you worry at least somewhat that you're get selling into any strength that we see and that's go going -- you got up to 1260 at one time. you broke it back down. there's going to be sellers of the gold on any rally. that's normal. i use the term water shed very rarely. it's the term i use when i'm making a change in sentiment. where does it go from here? higher, probably several hundred dollars higher. the risk reward is probably to the down side $75. to the upside 3 or $400 higher. so at 1255 you wouldn't be surprised to say by the end of the year we're at 16? is that doesn't seem that far fetched? that doesn't seem far fetched to me at all. that would still be $300 lower than its high. if i'm going to be bullish of gold i'm going to be a buyer of gold and a seller of yen. if you had done that over the course of the last two and a half years you're down. if you bought gold in yen terms you're down two percent. that's a good overperformance. because we know that opinions in position can change you told
Thursday, June 27, 2013
Gold Nowhere Near Its Low: Dennis Gartman
Investors can't be too bullish on gold or copper, commodities trader Dennis Gartman says.
Dennis Gartman: you can't find yourself being too terribly bullish of any ought metals at this point. copper clearly has fundamentals facing it. without the fed, you got problems. you took copper down the morning, however, to what i used to call the obscene number. you took it down to below 3 cents, $3 per pound. you might. you might be making a low here. but i would not press that issue. gold, on the other hand, i think is nowhere near making a low. i think gold wants to go demonstrably lower, still. it needs, as i always said, gold needs fuel. it needs a lot of fuel, more fuel, monetary aggressiveness to push it up. and it doesn't have that as far as the ecb or the fed is concerned. it only has one friend in the bank of japan and if you are going to be long of gold the only way is to be long in yen terms. but anybody who holds gold in dollar terms finds himself in a very uncomfortable position
Dennis Gartman: you can't find yourself being too terribly bullish of any ought metals at this point. copper clearly has fundamentals facing it. without the fed, you got problems. you took copper down the morning, however, to what i used to call the obscene number. you took it down to below 3 cents, $3 per pound. you might. you might be making a low here. but i would not press that issue. gold, on the other hand, i think is nowhere near making a low. i think gold wants to go demonstrably lower, still. it needs, as i always said, gold needs fuel. it needs a lot of fuel, more fuel, monetary aggressiveness to push it up. and it doesn't have that as far as the ecb or the fed is concerned. it only has one friend in the bank of japan and if you are going to be long of gold the only way is to be long in yen terms. but anybody who holds gold in dollar terms finds himself in a very uncomfortable position
Tuesday, December 20, 2011
Dennis Gartman Neutral on Gold
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
Monday, December 12, 2011
Gold to fall to $1450 - $1500 quickly says Dennis Gartman
Gold drops down below $1700 for the first time in two weeks and touched a seven week low earlier in the day. Dennis Gartman, The Gartman Letter founder/publisher/editor gives his outlook on the Gold Market : we could see gold trading down to $1500 - $1450 very quickly , he says , a lot of people got caught owning gold because they thought the problems in Europe will boost the gold market he adds , and what's really bad for the gold market is that over the weekend you had an announcement by a huge purchase by the Chinese which had no effect whatsoever that's not a good sign
Gold falls below $1700 for the first time in two weeks and is expected to go lower
Gold falls below $1700 for the first time in two weeks and is expected to go lower
Monday, December 5, 2011
Why is Gold Down while Stocks are Up ?
Why is Gold Down while Stocks are Up ? Is Gold Losing It's Shine? Dennis Gartman of The Gartman Letter, will give his outlook for the yellow metal and how to play this gold market "I think what we have here as the year is coming to an end and as many stock portfolio managers who do own some gold find themselves behind their benchmarks I think you saw them today swaping out of Gold moving into the stock market and this may continue for a while " Dennis Gartman says
Thursday, June 16, 2011
Gold $1650 by the end of the Year says Dennis Gartman
Dennis Gartman, The Gartman Letter says that Gold and Silver are are flexing their muscles against other currencies and how you should to trade them : "you do but not in u.s. dollar terms. it's going into gold in euro terms, sterling terms and yen terms. it's one of the reasons why i'm an advocate of owning gold not in u.s. dollar terms at all. with the circumstances in greece it works to the benefit of owning gold in especially you're oterms. it it creates a different sort of gold investment." Gold is going higher says Gartman "by the end of the year we could see gold at 1650, in euro terms another 100 euro higher" "long gold short the Euro " he added
Thursday, January 20, 2011
Friday, October 8, 2010
Dennis Gartman Expects Correction to Follow Gold Euphoria
Oct. 6 (Bloomberg) -- Dennis Gartman, an economist and editor of the Gartman Letter, talks about his investment strategy in gold and the Swiss franc, and the outlook for U.S. employment. Gartman speaks with Tom Keene on Bloomberg Television's "Surveillance Midday."
Thursday, May 13, 2010
Euro will disappear in next few years, Dennis Gartman
May 08, 2010 — CNBC, Fast Money, 05/06/10, Dow dropped nearly 1000 points (roughly 10%) in 15 minutes this day. Euro dropped relative to Japanese Yen 30 minutes prior to 995 point plunge in Dow.
Euro will disappear in next few years says Dennis Gartman ( Euro 1.2727 dollars to one Euro, High was on Dec 3, 2009 at 1.512.
(Dow ended the day at 10,520 on this day).
Guy Adami, Pete Najarian, Melissa Lee, Joe Terranova
Stock market, equities, 1000 point plunge 05/06/10, gold, silver, bonds, futures, currencies, US dollar, Euro.
Euro will disappear in next few years says Dennis Gartman ( Euro 1.2727 dollars to one Euro, High was on Dec 3, 2009 at 1.512.
(Dow ended the day at 10,520 on this day).
Guy Adami, Pete Najarian, Melissa Lee, Joe Terranova
Stock market, equities, 1000 point plunge 05/06/10, gold, silver, bonds, futures, currencies, US dollar, Euro.
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