It’s not cool to be a gold bear. Well in a sense that’s obvious because gold is at an all-time high. But beyond that, gold bears are frequently ridiculed by gold bulls, whose love of the shiny yellow metal basically verges on religious faith.
Nobody dares cross them!
We wonder, now, whether those who are actually sceptical about gold are becoming afraid.
Listen to Dennis Gartman, via NetNet:
“We can assure everyone that we are not bearish of gold,” he wrote. “We are, however, suspicious of buying more gold here at the current levels and we are reasonably confident that gold prices might well fall $80-$100/ounce sometime in the next several weeks and yet having nothing done to the sustainability of the long bull market in gold.
Oh, oh, we’re not bearish, we swear! We just think that it’s going to have a hard time maintaining its level, and we think it might go down.
But we’re not bearish, really! Don’t send hate mail!