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Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.
“The game has changed,” he said. “The stock market is ridiculously overvalued; it would be comical if it weren’t so serious. The fact that you've had such weakness, not just in stocks but inhas held its own, that’s impressive, and you have to pay attention to it. This is an impressive breakout of real consequence for gold.”
Gartman said that in this environment, the Federal Reserve, despite its tough talk, will eventually have to lower interest rates. So far, the U.S. central bank has been reluctant to signal the start of a new easing cycle as it tries to get inflation under control. Along with lower rates, Gartman said that it’s only a matter of time before the Federal Reserve increases its balance sheet again.
Gartman noted that gold miners are as cheap as they have been in decades, and they offer investors value as the broader market starts to weaken.
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