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Ten Percent Of Your Money Should Be In Gold: Cramer
(Kitco News) - A reminder from Mad Money's Jim Cramer — investors should have 10% of their money in gold.
The latest comments were made during the Mad Money's Lightning Round on Thursday. "Everyone should own 10% of their money in gold, is fine with me," said CNBC's Cramer.
Gold came up during the question on Kirkland Lake Gold, to which Cramer replied, "I like Kirkland."
Cramer's top gold stocks picks, however, are Agnico Eagle and Barrick Gold. "Now look, let's be frank … let's go Agnico Eagle, is my favorite and then I like Barrick for value, but yours you've got a good one too and gold stocks do trade together and everyone should own 10% of their money in gold, is fine with me," Cramer said.
Earlier in the week, Cramer already highlighted gold as the safe-haven to hold versus government bonds.
"Why not own something that yields nothing that holds its value than something that yields negative that doesn't hold its value," he said in an interview with The Street on Wednesday. "It is ridiculous not to own gold if you're from any country on earth except for maybe the United States."
When it comes to playing the trade war, Cramer advised buying the U.S. domestic stocks with no exposure to China and gold.
"I think it's too soon to buy anything but the domestic stocks that have zero exposure to China, either as a supplier or as an end market … High-quality dividend stocks without much Chinese exposure will be the winners when the smock clears, just as they were after the last two round of tariffs," Cramer said at the beginning of August.
"People will keep buying precious metals as insurance against economic chaos … It's the classic safe haven for your wealth, and that's terrific for the gold miners," he added.
