The smart money, from George Soros to Dennis Gartman, thinks gold is washed up.
Currently, he publishes The Gartman Letter, a daily publication for experienced investors and institutions.
Gartman said he wants to own gold in wheat terms and crude oil terms.
Gartman turned bearish over only the past few days largely due to technical chart factors.
Gartman noted that the era of the Fed as an inflation-fighting institution is now over.
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In the October 1989 issue of Futures magazine, Dennis Gartman published 15 simple rules for trading.
Gartman, a commodities guy, continues to believe in his gold trade, especially in euro and yen terms.
Gartman said the fundamental news, including European woes was all there for the continuation of the gold run.
For the year to date, Russia has added just over 36 tons and Mexico 99 tons, Gartman reports.
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Gartman said Congress will work out fiscal policy to avoid it from happening.
Simply put, investors like Soros, Paulson, Gartman and the like are playing a different game than you or me.
Yes, our good friend Dennis Gartman did write about the plus or minus 100, 000 uncertainty, but no one else I saw.
Newsletter writer Dennis Gartman said he expects European gold purchases to increase.
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Gartman believes so, and this means the potential for disappointment is high.
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With this potential for liquidation, investor and newsletter writer Dennis Gartman said early Friday that he was exiting half of his gold position.
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Despite the possibility of a big sell-off if markets are displeased, Barclays and Gartman are positioning themselves to benefit under a positive outcome.
Regarding his call, Gartman said it sometimes boils down to luck.
Dennis Gartman, economist and author of the Suffolk, Virginia-based Gartman Letter, warned that the on-going selloff in gold futures has likely not yet reached an end.
Gartman said that they have since chatted and clarified points-of-views.
This has hurt gold prices, both Gartman and Kryuchenkov said.
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While this reaction may have been an over-exaggeration, as Dennis Gartman noted, players in the gold market seem to have placed their bets on Bernanke and additional monetary easing.
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In an interview on CNBC Wednesday, widely followed newsletter writer Dennis Gartman said gold is not a safe-haven investment asset because its price is too volatile on a daily basis.
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Earlier in the week Peter Grandich, the well-known goldbug and author of The Grandich Letter, called out Gartman on his assertion earlier this week that gold is now entering a bear market.
Dennis Gartman, publisher of the Suffolk, Va.
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After an impressive last couple of weeks, prices are now consolidating, as investors establish their positions and reduce exposure ahead of the weekend, Gartman explained. (Shares in major gold miners like Barrick Gold, Newmont Mines, and Goldcorp have accompanied the latest rally, while AngloGold Ashanti, a favorite of billionaire hedge fund manager John Paulson, has lagged).
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