Tuesday, November 17, 2009

It will continue to go up until it stops.

One of the best quotes I have recently seen in financial news sites. This is from CNBC Monday November 16th (link to the article and video here):

Dennis Gartman, founder of The Gartman Letter told CNBC Monday that the price of precious metal will "continue go go up until it stops." "It is a gold bubble, Gartman told CNBC. He called the trade on gold "mind boggling," but also said that he is currently long - or betting gold will go higher.

Well, I am sure he is right, the price of gold will continue to go up until it stops...

By the way, Willem Buiter has an interesting blog entry on the market for gold.

Antonio Fatas
on November 17, 2009 |   Edit