No Time Like The Present To Own Gold - Mad Money's Jim Cramer
(Kitco News) - With geopolitical tensions rising now is the time to have a strategic allocation in gold, according to Jim Cramer, host of Mad Money and co-founder of TheStreet.com.
According to some analysts one major factor that helped gold break through near-term resistance and soar to a new five-month high is because of growing geopolitical risk, with investors search for safe-haven assets. In particular tensions are rising among China and North Korea after a U.S. Navy strike group was sent to the area and following tweets from President Donald Trump..
North Korea is looking for trouble. If China decides to help, that would be great. If not, we will solve the problem without them! U.S.A.— Donald J. Trump (@realDonaldTrump) April 11, 2017
The TV personality and former hedge fund manager, said Wednesday that he likes gold in this environment.
"If you're going to talk about North Korea and put it on the burner and put it in a Twitter comment about how North Korea has to watch it [as Trump recently did], then suddenly what you're going to see is something …-- which is that gold is much more attractive than people realize," Cramer said in an interview with TheStreet.com.
"I have to tell you, I've always believed that people should own at least 10% of their assets in gold," he added. "There is no time like the present to buy gold."
June gold futures last traded at $1,276.40 an ounce, up 0.17% on the day.