As I understand it, Dennis Gartman has gone bearish on gold again. He shorted gold the other day with a target of $850 and a stop of $883.

Now I don’t know whether he’s targeting spot gold or a particular month for delivery but Kitco is reporting spot gold this morning at $887 with a high earlier of $892.50. So is Dennis stopped out already? Could be, it’s happened before.

Personally I have been waiting for silver to retrench to around $16 and gold $840 or so because I’d like to buy more. A few weeks ago there was a brief opportunity, but, alas, now money available at the time. None really handy right now either, but I’d try to scrape up some somewhere.

The way things look in the banking sector and in the oil patch, I don’t think next year at this time anyone would regret a purchase in gold, silver or related shares at current prices.

If you don’t know what to buy, may I suggest you get advice from the International Speculator?