Monday, May 4, 2020

Dennis Gartman still bullish on Gold in 2020

Gartman on Gold
Let us understand that I am not a gold bug. I am actually an optimist. But I do think the monetary authorities, led by the Fed, ECB, Bank of Japan and China, have no choice but to remain expansionary and will be even more expansionary in the future. Gold broke out above $1,700 and will probably go a good deal higher. There are times when you should own gold. There are times when you should not. This is a time where you should.


Best way to own Gold 
You can own Gold Futures but I dont think that is the better way. There are ETF's that one can own and various mining companies. I prefer the ETF's. It is a better way to go. 

Owning Gold is "a bet on the debasement of major currencies" that is the driving force. 


Full audio on Bloomberg Daybreak here