GO
Loading...

Gartman: Gold Sell-off Is Over, It's Time to Buy!

Last week he said rush for the exits, but now Dennis Gartman is convinced gold is going higher. What gives?

“I’m not a gold bug, but gold is going higher again,” he says on Monday’s Fast Money.

It's a technical call.

It seems Gartman's call last week to 'rush for the exits' was purely a belief that the precious metal was overbought, temporarily.

And he was right. Last week, gold slid 4.2%, the most since December. However, after 4 consecutive days of losses "gold has bottomed," he tells the desk.

Gartman suggests it's okay to buy - "I think we see a continued move out of euro and other currencies and into gold," he adds.

For more of Gartman’s thoughts on the precious metal, watch the video here.


*You can find our conversation with Dennis Gartman about 6 minutes into this clip!


______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.

CNBC.com with wires

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report