Cramer Says Gold Bottom is Here, Time to Buy, Buy, Buy (NEM, FRG, GLD)
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Jim Cramer, host of CNBC's Mad Money, said Thursday that gold has hit a bottom and now is the time to return to the precious metal after he skipped what he predicted to be a slow month of January.
“I think it’s time to get ready to buy some gold,” Cramer told his viewers on Thursday.
Cramer said a key indicator of god returning upward was the purchase of Fronteer Gold (AMEX: FRG) for a sizable premium by Newmont Mining Corp. (NYSE: NEM) on Thursday. He also said that the indicators in the daily and weekly charts of the SPDR Gold Shares ETF (NYSE: GLD) shows gold is set to move higher by $50 to $70 an ounce.
“The bottom in gold is here,” Cramer said. “I think it’s time to buy, buy, buy.”
“I think it’s time to get ready to buy some gold,” Cramer told his viewers on Thursday.
Cramer said a key indicator of god returning upward was the purchase of Fronteer Gold (AMEX: FRG) for a sizable premium by Newmont Mining Corp. (NYSE: NEM) on Thursday. He also said that the indicators in the daily and weekly charts of the SPDR Gold Shares ETF (NYSE: GLD) shows gold is set to move higher by $50 to $70 an ounce.
“The bottom in gold is here,” Cramer said. “I think it’s time to buy, buy, buy.”
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