Ukraine Under Siege: What’s Next for Gold, Oil and the Stock Market

“We’ve entered a bear market in early 2022” says Dennis Gartman, editor and publisher of The Gartman Letter, “and I believe we could see up to 8% inflation over the next two to three years.” Oil’s supply is currently diminished, “and backwardation continues to widen, so you have to air bullishly for Crude,” he tells our Daniela Cambone. “Silver’s price is very dependent on gold’s,” Gartman says, and is hesitant to trade the precious metal due to its beta-dependence. Gartman calls bitcoin “irrational,” and says the trade in the crypto space is completely forgone in his portfolio. Gartman speaks to the unprecedented invasion of Ukraine and concludes, “Putin has made a terrible mistake and he’ll pay dearly for it in the end, there’s no question of that in my mind.”