Economist Gartman ‘Nervous’ on Gold, Cuts Investment by Half
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Dennis Gartman, the economist and editor of the Gartman Letter who correctly forecast 2008’s commodities slump, cut his gold position by half today and said yesterday’s drop makes him “nervous” that it may keep falling.
The metal fell as much 1.3 percent yesterday after earlier this week trading within 1.8 percent of the all-time high a month ago. Gartman cut his gold holdings in all currencies. Gold in euros and British pounds rose to records since last week.