Dennis Gartman Sees Growth For Gold On Down The Road

CHICAGO (Aug 19)  Editor and founder of The Gartman Letter Dennis Gartman thinks that gold (NYSEARCA: GLD) will be on the rise. He talked gold, as well as some of the other investments that he likes, on CNBC's Squawk Box Monday morning.

"I'm not a gold bug, but I am bullish of gold, I've owned gold for a while and I continue to own it. I think it still wants to go higher. I own it in yen terms, I own it in euro terms, and I think I'd rather own it in those terms. It's just nothing more than another currency, and in a world where there is some confusion, [as in] Egypt, money is moving to safer havens…and it's moving to gold," said Gartman.

"Gold wants to go higher. "

While talking currencies the Indian rupee's decline came up, which continues to hit new lows.

"I wouldn't call today's movement a crash. We didn't move more than, I think it was [1.5] percent, which is large for a currency by any stretch of the imagination, but we've seen more than one percent, [1.5] percent, 2 percent currency moves recently in other areas. So, it's worth keeping an eye upon,"