Cramer says Buy Gold!

[ViC78]

This has to result in a short term drop in gold.

Investors always want at least some gold exposure in their portfolios, as it protects against inflation and overall market instability. But there’s another reason that Cramer’s bullish on the precious metal right now: scarcity.

This confluence of events—the scarcity, seasonality—as well as what Cramer sees as a growing demand for gold by the middle classes of developing nations like China and India, could push the price per ounce to $1,300 in September, he said. That’s up from $1,190 where it closed today, a sizable jump for anyone who wants to play the trend.“I think the clock is ticking before gold's next big run,” Cramer said. “Use tomorrow’s pending ugliness to buy some if you haven't already."

http://www.cnbc.com/id/38667230

[Sidewinder]

Re: Cramer says Buy Gold!

And there is this from ZH...

http://www.zerohedge.com/article/gol...tes-head-lower

[tastymannatees]

Re: Cramer says Buy Gold!

lol, Goldman and Cramer at the same time, they are calling it the "Death Cross" for gold.

[ViC78]

Re: Cramer says Buy Gold!

More from Cramer -

“Cramer’s view of market direction through yearend is dictated by politics and the outcome of the November midterm elections in which he says Republicans need to regain control of Congress and create the divided-government scenario that proved so salubrious to the market following the 1994 elections. “If Republicans prevail, we could see a 30% gain in the stock market, like the 37% move when it happened to Clinton,” says Cramer. “If the Democrats keep both houses you can’t buy enough SPX 1100 puts,” he adds, noting that a test of 9300 on the Dow would likely follow a successful defense of legislative hegemony by the Democrats,” John Dobosz Reports From Forbes.
Dobosz goes on to say, “Cramer has a soft spot for hard assets in his portfolio. “I am an unabashed believer in gold,” he says. “Gold can go to $2,000 in the next few years, and I’m not talking about 2020.” The “most bullish factor” for gold is that “we’re running out,” says Cramer. “There are no more big discoveries in the world,” says Cramer, adding that the next two months are traditionally bullish for gold because of jewelry demand in India and China. Buying the SPDR Gold Trust (NYSE:GLD) is Cramer’s preferred way to play the metal’s strength and he recommends the October 116 call option to capture the seasonal upsurge. His recommended miner is Agnico-Eagle Mines (NYSE:AEM) and he suggests the November 55 calls.”

[Mega]

Re: Cramer says Buy Gold!

I wonder if the FEDS are about to lift rates?
Mike