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No Time Like The Present To Own Gold - Mad Money's Jim Cramer

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(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..

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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