Gold prices are up around 1.5% from last night’s close.
Market participants have various reasons for the jump from Obama’s unilateral airstrikes on Syria-bases ISIS (and blowback concerns) to Europe’s dismal data (more QE?) but we suspect what really drove the move was what one world-renowned newsletter writer orated last night.
Practically bottom-ticking the recent swing in precious metals, none other than Dennis Gartman told CNBC viewers, “There’s no reason to own gold in U.S. dollar terms,” adding that, “owning gold has been just a treacherous, boring, nasty trade that just keeps losing money for anybody who buys it.”
* * *
$29.95 well spent…
via Zero Hedge http://ift.tt/1sldtU1 Tyler Durden