Dennis Gartman remains bullish on gold, recommends University of Akron endowment fund increase its exposure to 5% DennisGartman UniversityofAkron gold
- Gold's inability to hold its ground above $2,000 is disappointing; however, it remains an attractive safe-haven asset, according to famed commodity investor Denis Gartman.
"As of today, GLD was up 15.7% over that time, while the broad Russell 2000 stock index was down by approximately 18.9% over that same period," he said.In his personal investments, Gartman reiterated his bullish positioning in gold and Treasuries. He added that he is also long-term bearish on equities.
Gartman's bullish outlook for the precious metal comes as prices look to regain their foothold on $2,000 an ounce. The yellow metal sold off sharply last week, falling to a two-week low as market expectations around the Federal Reserve's monetary policy started to shift. The gold market has also seen some profit-taking as concerns over the banking sector eased after the failure of major regional banks in the U.S. and the collapse of Credit Suisse in Europe last month.
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