Dennis Gartman, publisher of the Gartman Letter, believes investors should consider increasing their exposure to commodities. “And if I had to choose one area, the grains seem awfully cheap to me,” he said at the recent New Orleans Investment Conference.
“We need to pay attention to the fact that commodities prices relative to stock prices are preposterously, egregiously, stupendously, stunningly, comically low,” Gartman explained, adding, “I think that over the course of the next year, the propensity of commodity prices to advance and for equity prices to decline is probably quite strong.”
Gartman comments frequently on the gold and oil markets, and he also shared his thoughts on where those specific markets may be going. In terms of oil, he said he sees prices remaining “stuck in a relatively large range,” and noted, “I think it could be really quite boring for a long period of time.”
Speaking about the gold price, Gartman suggested that investors “need to pay attention to the fact that since December of 2015 each low in gold has been higher [and] each high in gold has been higher.” He sees the yellow metal continuing to trend “quietly higher.”
Watch the interview above for more insight from Gartman on gold, oil and the commodities space as a whole. The transcript for this interview will be added shortly.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.