Gartman reveals secret way to make money on gold

As the world awaits the Federal Open Market Committee's policy statement, there may be another central bank with more impact on gold right now. So says Dennis Gartman, Founder and Publisher of the The Gartman Letter.

Gartman believes the Bank of Japan is shaking things up when it comes to the precious metal.

"I think that the Bank of Japan has made it clear in very precise statements that it would double the isze of its balance sheet before the end of the current fiscal year, which is next March," says Gartman. "A doubling of a balance sheet in this short a period of time is clearly detrimental to its currency and clearly, therefore, supplemental of gold prices in that currency."

In other words, Gartman says Japan is printing a lot yen to grow its economy and that will likely raise the price of gold relative to the yen (sound familiar?).

(Related: Gold set for big monthly gain, awaits Fed)

"I've been bullish of gold in yen terms for several years," says Gartman. "I see no reason to change that opinion especially in light of the fact that [Japanese Prime Minister Shinzo] Abe won a resounding election in the upper house. He now has a free hand. Mr. [Haruhiko] Kuroda, the head of the Bank of Japan, is in line with what Mr. Abe has said. They're going to expand reserves. They're going to do what they can to increase inflation in Japan. [This] has to be bullish of gold in yen terms."

"The Bank of Japan is far more important relative to gold than is the Federal Reserve Bank," says Gartman.

(Related: Here's what could really knock the yen back down)

Is there a way the average investor can put on a trade based on Gartman's idea with their brokerage account? Yes, he says and Gartman explains how in his interview with Talking Numbers.

And, Gartman also gives his advice on what traders need to do in general to make money trading. "That's 40 years of trading on my own account," says Gartman. "That's what I have learned and if I can pass any knowledge on to anybody else, that's what I hope everybody else learns."

To learn Gartman's secret method that was honed over 40 years of trading, click the video above.

Also in the above Talking Numbers video, watch Richard Ross, Global Technical Strategist at Auerbach Grayson, analyze gold's chart and hear what he thinks is next for the yellow metal.

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