Cramer: Gold Sell-Off is Opportunity to Buy, Buy, Buy (GLD, GDX)
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Jim Carmer, host of CNBC's "Mad Money," said Tuesday that gold has not reach its peak and that the sell-off is a result of profit taking, representing an opportunity to buy.
“Don’t expect gold to get away from you here. Expect some more profit-taking. So slowly leg in. No hurry. But please, please, don’t miss it this time.”
Cramer added that “gold's going to be worth more and more,” despite the drop-off on Tuesday. He remains bullish on gold as he sees pressure on world currencies in 2011, adding that governments are printing to much money.
Gold is down $2.70 to $1,375.80 an ounce early on Wednesday.
There is not a better way to protect against the large amount of cash ready to hit the financial system in 2011, says Cramer who thinks investors should put about 20 percent of their portfolios into the precious metal.
“Don’t expect gold to get away from you here. Expect some more profit-taking. So slowly leg in. No hurry. But please, please, don’t miss it this time.”
Cramer added that “gold's going to be worth more and more,” despite the drop-off on Tuesday. He remains bullish on gold as he sees pressure on world currencies in 2011, adding that governments are printing to much money.
Gold is down $2.70 to $1,375.80 an ounce early on Wednesday.
There is not a better way to protect against the large amount of cash ready to hit the financial system in 2011, says Cramer who thinks investors should put about 20 percent of their portfolios into the precious metal.
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