Dennis Gartman, Founder and Publisher of The Gartman Letter, gave a very interesting interview on CNBC where he shared his insights into gold. His take home messages were:
The high in gold is almost 2 years behind us.
We've failed to make a new high and broken many trend lines support.
Gold is a broken commodity and is likely to head lower.
Gold is likely to head lower even with all the news of the Fed expanding reserves to the system.
The trend seems to be downward, and if $1,200 is broken, the next level of support is $1,000.
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