The video was shot Friday afternoon, and some of the predictions have already come to fruition – namely that gold would quickly retrace 50-62% of it’s previous move (which Dennis Gartman refers to as “the box”) and trade in the range it’s currently in.
Towards the end, you get a better perspective on the recent pullback in the context of the overall gold bull market – important to note that gold is still in a bull market. And in a bull market, you should be a buyer, not a seller.
Like many of you, I have been quite frustrated in gold not “acting like it should.” I am not a gold bug by any stretch of the imagination, but I think it’s an appropriate investment at this point in time, as Obama continues to fill key economic positions with money printers.
Related post from Saturday: Three Big Pieces of News for Gold Investors