Dennis Gartman a commodities trader & publisher of The Gartman Letter was interviewed on CNBC’s Fast Money today, his take on gold is acquire gold for the long term. Gartman told CNBC Gold has become the world’s second most reservable currency. It’s gaining relative to the euro and yen. It’s quite strong and will likely continue to be for some time to come.
Our recommendation to clients is hold gold at minimum one economic cycle of 5 to 8 years. This will allow for the best return on your investment. It will not let the spikes created by global conflicts or retractions due to profit taking to erode your investment. This also virtually assures the viability of your investment as a money maker.
All of this makes gold the top investment for your tangible asset portfolio in the next decade. There will be other short term items to consider but for the long term gold is where some of the largest returns will be realized according to the experts. Fast Money: Gold Remains Strong for Quite Some Time