Is now the right time to buy Gold ?

Another one bites the dust. Dennis Gartman is the bearded , bespectacled , mildly pompous CNBC "Gold analyst" that staunchly denies Gold manipulation , and continually berates the Gold community for believing in such "nonsense".

Snip from today's Gartman Letter pealed from the public domain....

"COMMODITY PRICES HAVE FALLEN AS THE DOLLAR HAS RISEN and we wonder very publically is it possible for us to have traded gold more poorly than we have in recent weeks and months. From a genius gold trader two and three and four and five years ago, we’ve become comically inept at it presently, buying strength only to find the market plunging shortly thereafter, and selling weakness, only to find the market rising. There comes a time when we must say that we are out of synch with gold, and that time is now. Let the gold bugs snicker, we care not a whit, but clearly we’ve had gold wrong in recent months. Perhaps ‘tis best we leave it to others wiser… or dumber, we really know not which… for a while.

The set-up for an official sector Gold raid was near perfect yesterday. If Dennis wasn't [intentionally?] wearing blinders , he would have been short into Monday's close.....like us "dumb" Gold Bugs.

snicker...snicker

On Wed , after he stopped out @ $937 on his $955 Gold positions , Gartman appeared on CNBC' FastMoney: Gold may fall to $915.

Translation: Run to cover & reverse. In a way I'm sorry to see him go. He's has been the ultimate contrarian indicator for over a year now.

Related: The gold market really isn't about you, Dennis

A compliment for GATA from Peter Grandich