Gartman Highlights Discrepancy between Bonds, Gold

UNITED STATES August 29 2016 11:16 PM

NEW YORK (Scrap Register): Famed newsletter writer Dennis Gartman said he’s looking at the discrepancy between the bond market and gold, noting that the latter will likely move higher.

“Normally, one expects gold and the bond market to move against one another driven by inflationary expectations, Fed policy, economics,” he told CNBC.

However, both markets have been moving in tandem and to Gartman, this doesn’t make sense.

“If this anomaly of moving in tandem begins to break apart, again as it should, you could see the gold market move $40-50 higher [and] you could see the Treasury note move 3-4 points lower,” Gartman added.

Gold has been under pressure as markets continue to digest last week’s comments from Fed officials, however the metal has re