Gold price plunges, panic everywhere

financial crisis“Panic is everywhere”, investor Dennis Gartman said Monday morning about the plummeting price of gold.

“There are a lot of people throwing up their hands — throwing positions overboard,” Dennis Gartman said on CNBC’s “Squawk Box.”

Multiple news sources reported gold prices have dropped more than $140 an ounce in the biggest two-day loss since 1983.

Gartman added:

I’ve been at this 40 years. And I have to tell you, normally people say they’ve never seen anything like this. They don’t mean it. I’ve never seen anything like this. I mean it.

Watch the Monday “Squawk Box” segment via YouTube here:

http://www.youtube.com/watch?v=K8j6yo9wGYM

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