Gold rises most in eight years

[doharra]

Gold Rises Most in 8 Years as Investors Seek Haven From Turmoil

Central banks around the world may now look to gold as an alternative reserve asset to the U.S. currency, said Dennis Gartman, an economist and the editor of the Gartman Letter in Suffolk, Virginia. Until today, Gartman had been bearish in his outlook for gold.

``It's now time to be bullish of gold,'' Gartman said. ``U.S. Treasuries are still the most liquid asset. The question is, will central banks be as aggressive in buying it, and the answer is: probably not.''

[GRG55]

Re: Gold rises most in eight years

Gold Rises Most in 8 Years as Investors Seek Haven From Turmoil

Ahhh. The ever flip flopping Dennis Gartman. A few weeks ago he was predicting a "three year bull market" for the US Dollar. What a joke...:p

[we_are_toast]

Re: Gold rises most in eight years

So everyone is loosing confidence in the $, China is hinting it wants something other than the $ as the reserve, if not the $ than what? Sure seems like gold could be a good acceptable alternative. If by decree or default the world starts moving back to a gold standard, how high would gold go?