Gartman: Gold Can go Parabolic

Gartman: I don’t get the sense that the public is terribly involved.

CNBC anchor: Wait you don’t think the public is involved in the gold trade Dennis?

Gartman: No, not much at all actually

CNBC anchor: But the holdings for GLD are at record highs

Gartman: I understand but you look at who holds the ETF, it’s not the public. I’m impressed by the institutional demand that has gone to the ETF. I’m certain the public is there. But this is not one-sided. This is not panic. This is not the kind of frenzy that we had in the gold market in the early 1980’s. This is not the kind of panic frenzy that the public got involved in in tech stocks in the early part of this century…this is different.