Gold pared gains on Friday as the euro retreated from highs against the dollar in the wake of second-quarter GDP data from the United States.

Trading legend Dennis Gartman is one of the most influential market commentators out there. He is what we like to call here at Notes an “investor’s investor.” That is, he’s a market veteran who speaks directly to other traders and investors.

Gold fell to a one-week low on Tuesday, dropping sharply as the dollar strengthened broadly and crude oil prices tumbled, reducing the metal’s appeal as an inflation hedge.

Gold hit a two-week high above $946.00 per ounce on Friday, extending its gains as the dollar retreated, while firmer oil prices raised its appeal as a potential inflation hedge.

The fate of the global equity market rally now comes down to China. Will it continue to stockpile hard assets? Will the data points continue to soothe and impress? Much is at stake either way…  

Hedge fund legend Julian Robertson is betting the farm against long-dated US Treasurys. As Notes readers will be aware, we have been banging the drum on the vulnerability of long-dated US debt for over a month now. But Robertson, of Tiger Management fame, has a different way to make this short long-term Treasurys play (hat tip Market Folly).

The United States Bureau of Labor Statistics has an “inflation calculator” on their website. It allows you to enter an amount of money and a previous year and then tells you how much money you would need to have today to match the same buying power.

Firm U.S. dollar weighs on sentiment… Slips from 1-week high as oil prices ease…

Dollar weakens against euro as U.S. equities gain… Oil recovers from 3-1/2 year low … Traders look to U.S. auto sales figures to guide platinum

There’s no question that gold has been on a very impressive streak, but with the recent fall under $900, is the bull run over?Let me give you three reasons why gold is still a golden buy,cheesy phrase, I know, but very appropriate.