Coming To A Point

Posted by Dennis Gartman - The Gartman Letter

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This brief comment below from the Legendary Trader Dennis Gartman.  For subscription information for the 5 page plus Daily Gartman Letter L.C. contact – Tel: 757 238 9346 Fax: 757 238 9546 or E-mail: or HERE to subscribe at his website


SPOT GOLD IN US$ TERMS:  Things Are Coming To A Point,  Aren’t They?:  
“Triangle” consolidations  almost always end with  the market moving in the  direction that prevailed  prior to the formation… in  this instance higher!

We are most impressed with the fact that gold is trading firmer despite… or perhaps interestingly because of… the stronger US dollar. Gold is firm, and quite so, in terms of the EUR, the Yen, Sterling et al, and we accept that as a condition of the world’s central bankers at the margin quietly moving away from the EUR as a reservable asset and moving to gold instead.