Quantcast
Other Stories

Dennis Gartman, Investor and newsletter writer, is buying gold in euro terms again after stepping to the sideline during the metal’s correction late last year.

29 Jan 2012

LONDON (Commodity Online): Dennis Gartman, Investor and newsletter writer, is buying gold in euro terms again after stepping to the sideline during the metal’s correction late last year.

After consolidating its gains in recent weeks between 1,275 and 1,300 euros, gold has broken to the upside on the technical charts, he said in The Gartman Letter.

Meanwhile, he remains long in copper, which has risen to $3.90 from $3.40 a pound this month.

Gartman points out that drawdowns in London Metal Exchange copper inventories have reached their highest levels since May 2009 and that U.S. durable-goods orders reported Thursday were supportive for copper. However, he said, “for now, a quiet, consolidation seems in order.”


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED