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Gartman: Nothing would make me a raging bull on gold

After gold locked in its steepest intraday drop of the year, falling more than 2 percent on Monday, commodities trader Dennis Gartman said that no headline would make him a raging bull on the precious metal.

"There is no real news that is going to turn me to be overwhelming fanatically bullish of gold," Gartman, editor and publisher of The Gartman Letter, said on CNBC's "Fast Money."

"It's going to be a technical circumstance," he added. "Gold is a technical market, and again, it's not a safety play."

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Gartman is long gold in euro and yen terms.

Gold is up more nearly 7 percent so far this year.

By CNBC's Kristin Cwalinski

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