Tuesday, June 28, 2011

Cramer: Buy GLD at 140


While he dislikes owning gold shares at the moment, Jim Cramer is bullish on the gold bullion. In his latest Lightning Round session of Mad Money Program, he recommended purchasing GLD ETF at $140 (5% below current prices). He forecasts prices will come down a little as people see no inflation and the fact that oil is also coming down and a stronger green back is bad for gold. "but gold has gone inexorably up...buy more at $140. Gold is a currency and not a commodity."


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