"Gold is strong in yen terms. Gold is strong in euro terms. Gold is strong in sterling terms. And it's even strong in dollar terms," he said. "It is a bull market. It's still going higher. It wants to move, I think, a great good deal higher."
(Read more: Gold rises amid Syria fears, September jitters)
Gartman said that the precious metal could soon hit $1,415 or $1,425 given the escalating situation in Syria, which Secretary of State John Kerry addressed in an afternoon address.
"The market took it seriously enough to understand that that was a weak statement," Gartman said.
Continued weak economic data, he added, also made it unlikely that the Federal Reserve would begin to reduce – or taper – its $85 billion-per-month of asset purchases before December.
(Read more: The risk of rising rates on housing recovery)
Gartman also said that he was buying Japanese stocks.
"I went back and bought the Nikkei because I think the Nikkei is probably going to be the place where equity prices will have the greatest devaluation," he said. "I can be wrong."
— By CNBC's Bruno J. Navarro. Follow him on Twitter
— CNBC's Michael Newberg contributed research to this report. Follow him on Twitter: