Dennis Gartman 'Socially Distancing' Gold Until a Correction

Jul.29 -- Dennis Gartman, economist and former publisher of The Gartman Letter, says he has taken a neutral position on gold, but would return as a buyer if the price declined "$100 from any interim high." He speaks on "Bloomberg Surveillance."

[singularity-]

"Gold is money, everything else is credit" J P Morgan.

[onderbetaald]

People aren't long gold, they're short printable currency.

[edwarddavies]

I don't quite understand his logic here, selling now with him hoping to rebuy with just a 5-10% correction. Seems a very strange tactic

[maxsmart]

There’s a reason it’s on the front page of everything, printing trillions of dollars, US Dollar is less of a reserve currency

[bullishstand]

gold hasn't had that much return in 10 years...after 10 years of consolidations, hitting ath, it just wont stop there

[Viperever]

I bought physical gold. Honestly don't care how crowded it is, it helps me sleep at night.

[peteroliver]

He's just talking BS for the gullible public. Trying to put people off gold.

[iammm]

7 years ago, US debt was 15T and gold was $1200, now is 26T, 1900 is just fair
too crowed? why dont u put ur client's $ in saving account

[deridethetide]

The fed could become less accommodative... lol that's so cute

[monkeyloven]

This guy is OUT of his mind. It's been in the papers for maybe one week, hahaha. It's just starting.

[chriss]

Dennis Gartman is entirely incorrect. Look at the 70's. Look at 2000 to 2010. Look at where we are at now! Gold IS money. We are in the 3rd inning of an historic bull market in precious metals. Check out the TSX Venture Exchange 6 month chart. You can see where the miners are headed. Pick a planet. Enjoy the ride!

[vanwandererx]

Yeah FANG stocks have been crowded for years and yet they keep going higher.crowded trade is not a good argument

[caseylm]

He is right short term but its not worth trading if u have little faith in the US/fed. Buy stocks have shot up a bit too fast, but they are still a third of what u saw in 2010

[Sams]

gold might correct as it tests 2000, but it will top 2000 and remain there for some time as a result of the massive shift in supply/demand of US dollars from the printing of trillions of them...

[willbellick]

A strong market will not give you much of a discount to buy.

[tyler]

It has to do w the expansion of the money supply which is propping up corporate bonds and stocks guy

[PRU]

It is not crowed at all! Nasdaq is crowed, gold is a pretty small market

[stevekung]

People are in the FANG stock for years and the trade had been crowded for year, yet those stock are the best performers for years. The gold and silver market were only heating up in the recent months and this guy think everyone is already involved.

[eskayagarwal]

what indicators he uses to get newutral and buy?

[michael]

Better to just stay long bro. Long since 1250