Gold industry expert Dennis Gartman says that the present levels of pricing make gold a great value investment, with a clear path upwards for the precious metal emerging.
He said, “I think gold is very cheap at this point relative to stock prices. Gold is very cheap relative to almost any other investment. It wants to go higher from these levels.”
Giving his take on when and why the bulls will move higher, Gartman says the move could well be imminent. “The Federal Reserve’s balance sheet is £7.4 trillion ($8.5) trillion and they are taking £82 billion ($95 billion) out a month. It will take years for them to work all that liquidity out of the market. Inflationary pressures are going to be extended for a long period of time that should be beneficial to the gold market.”