Loading ...LONDON (Mineweb) –
When a highly respected, and heretofore basically neutral on gold, financial commentator, such as Dennis Gartman, reckons that ‘The Force’ which has been keeping the gold price down, presumably through massive paper gold interventions in the futures markets may well be near defeat, this could be a signal for the big investors and fund managers to get back in to precious metals. And if that does happen then all bets on where gold may end the year are off.
Gartman, whose opinions are much sought after in the mainstream investment sector, reportedly says in his latest newsletter to clients that gold has already breached the key Euro resistance level of €975 and if it should continue its latest upwards move in the Dollar next week and breaches $1,325, ‘The Force’ may have to beat a strategic retreat and let gold find its own level rather than the mostly manipulated one it has been running at for much of the past three years. While he does not mention manipulation per se, it is very much implied in his Star Wars ‘The Force’ terminology
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