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Dennis Gartman trims his gold position by half "due to nervousness about recent declines and...

Dennis Gartman trims his gold position by half "due to nervousness about recent declines and rumors of possible central-bank sales." Noting two recent bouts of "swift, violent selling," Gartman warns, "where there is rumored smoke, there can be actual fire."
Comments (10)
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    What happened to corn and wheat Dennis? We get it, buy gold.
    3 Jun 2011, 09:24 AM Reply Like
  • enbeuu
    , contributor
    Comments (35) | Send Message
     
    If for nothing else than to have cash ready; this is turning a bit ugly today. Greece and the Euro deflation is making it all phugly, today, again.
    sold more of my core position, too.
    16 Jun 2011, 02:23 PM Reply Like
  • radicall
    , contributor
    Comments (534) | Send Message
     
    Buy S&P in Gold terms - short gold, long S&P in equal amounts. Hold till August.
    27 Jun 2011, 02:49 AM Reply Like
  • kmi
    , contributor
    Comments (4024) | Send Message
     
    Gold is dipping but there is a lot of support for it in the long run. Its simply the best commodity to bet long on if you subscribe to dollar deval story since high gold prices don't impact actual commerce in the way oil, silver, copper, etc do.

     

    Only thing that can reverse dollar-gold will be real strength in US economy, which doesn't seem to be on the horizon.
    27 Jun 2011, 10:25 AM Reply Like
  • radicall
    , contributor
    Comments (534) | Send Message
     
    Or a Euro collapse ?
    27 Jun 2011, 12:11 PM Reply Like
  • Matthew Reardon
    , contributor
    Comments (149) | Send Message
     
    The idea of someone selling Gold at this point baffles me. Especially on the basis of the "Fed" and "Rumors".
    2 Jul 2011, 10:23 AM Reply Like
  • radicall
    , contributor
    Comments (534) | Send Message
     
    they bought gold on the basis of "Fed". Logically - if QE is a reason for gold to go higher, why is it illogical for gold to go lower after QE ends? Lot of the "value" of gold is speculative anyhow.
    6 Jul 2011, 07:17 PM Reply Like
  • Matthew Reardon
    , contributor
    Comments (149) | Send Message
     
    QE wont end. They will say it ends but in no way will they tighten policy. Interest rates are going to stay low to stave off any hike in debt payments. They wont call it it QEIII but it will continue.
    6 Jul 2011, 07:21 PM Reply Like
  • radicall
    , contributor
    Comments (534) | Send Message
     
    dubli: there is a difference between an asset purchase program vs keeping overnight rates at 0.

     

    Japan has had overnight rates at close to 0 for a decade
    6 Jul 2011, 08:54 PM Reply Like
  • Matthew Reardon
    , contributor
    Comments (149) | Send Message
     
    I believe more treasuries will be bought up as well. Not just low interest rates. I think its inevitable.
    7 Jul 2011, 03:56 AM Reply Like
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