John Hathaway: Give-Up Phase As Gartman Shorting Gold Is Bullish!

• Hathaway – Give-Up Phase As Gartman Shorting Gold Is Bullish! 
  by www.kingworldnews.com
  Today John Hathaway told King World News, “… we are psychologically at the give-up phase on gold.” The 40-year veteran and prolific manager of the Tocqueville Gold Fund also stated that Dennis Gartman announcing he shorted gold yesterday is a very bullish development for the gold market.  But first, here is what Hathaway said to expect next for gold:  “Eric, this feels to me like last May when gold had a launch into September to complete a pretty big rally.  It was a more than a 40% kind of move on the XAU.  All of the things I look at, sentiment, trading volume, commentary, you know Credit Suisse put that piece out about the end of the bull market in gold.”
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  “All of that tells me we’re pretty darn close to the end of this (correction in gold).  I know it’s exasperating and painful.  I feel the same thing myself because I am an investor.  You’ve got to look at the bigger picture, and the bigger picture is that we probably aren’t going to have much in the way of economic growth.
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  That means the deficits are not going to close the way the optimists are saying.  The Fed is going to have to continue to buy Treasury bonds at a very high rate and expand their balance sheet or interest rates are going to skyrocket….
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