Thursday, May 2, 2013

Dennis Gartman: You do not want to own the miners

I hate them [Gold Miners]. Theres no reason to own a miner at this point. In the last few years if you owned gold ETF or futures you haven't been hurt badly. But if you held any miner junior or senior you've been hurt badly on a consistent basis.

The bet is to own Gold, why would you expose yourself to miners union problems, mother nature problems, hedging problems. Sometime in the future the miners will outperform the gold. If you miss it by 6 months to a year you will still be early. So you dont want to own the miners and you really do not want to own the Juniors.