Gartman says gold is in a true bull market—and on its way to $1,500

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Gold going 10-15% higher?

Gold has enjoyed a spectacular beginning to 2016, and one widely followed commodities expert believes the metal could be on the verge of going much, much higher.

"I think it's still a bull market," said Dennis Gartman, editor of The Gartman Letter, Monday on CNBC's "Fast Money." He predicts gold could finish out the year 10 to 15 percent above current levels.

With hitting a 15-month high Monday and breaching $1,300, that would represent a price as high as nearly $1,500.