So that's what I heard on Gloomberg...Gartman says people more concerned over deflation rather than inflation. And deflation is not bullish for Gold. ROFLCOPTER!
In fact, they've got it exactly ass-backwards.
- Gold performs the best during deflation (especially debt deflation).
- Gold does not perform too well during inflation.
- It performs the worst in disinflation.
Not too long ago he said Gold outlook is bearish and that Gold is not bullish during deflation. Now I hear him right now on Bloomberg saying he's uping his target on Gold and he's adding to his position right here citing, "It'll likely be higher a month from now and likely a year from now". He then adds there is no reason to be concerened about inflation now. Ok so someone might claim to be long Gold here in anticipation of the inflationary pressures on the flip-side. This is precisely why gold performs BEST during credit deflation. Those guys make me laugh. Even though I've been a bull on Gold I want to see it get over $918 before I add to my position and then again above $935'ish
