Investors looking for a buy should still look to gold, even as the U.S. dollar rallies, according to commodities king Dennis Gartman.
While the greenback has strengthened in the past week, Gartman and other market watchers argue that bullion is still interesting to watch given its short term trends versus the dollar.
In a research note this week, Wells Fargo Investment Institute said the commodity appeared "oversold", and was ripe for a bounce back in price.
"I find it fascinating that gold has held reasonably well, even tries to rally as the dollar has gotten stronger over the course of the past six or seven days," said Gartman Tuesday on CNBC's "Futures Now."
The dynamic, he said, is "atypical, and I think it tells me something." However, the "better trade here," Gartman says, is to own gold in terms of the euro currency rather than the dollar.
Gartman is generally bullish on the dollar and should the currency go up, gold prices are at risk of dropping down. The euro, by comparison, has struggled against a basket of currencies including the dollar.