Tuesday
Apr162013
CRAMER: 'Don't Sell Your Gold, I'd Buy On The Dip'
"You need to have something to offset the printing presses of the central banks."
Jim Cramer shares his final thoughts of the day.
If you're an investor with a longer time horizon, "My advice is to have a position in gold. I am not changing that. If you hold no gold, on this dip I'd buy some."
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At last check, gold is trading at $1377, up $28 this morning.
Reader Comments (6)
http://www.cnbc.com/id/100641133
http://www.cnbc.com/id/100642539
Think... With all this historical massive selling, WHO'S BUYING!!!!
Here's your buyer right here.
http://dailybail.com/home/bob-pisani-what-happens-to-gold-etfs-during-selloff.html
"Do they realize yet that the world's central bankers are now net buyers of gold? Are the Chinese and Russians closet Republicans?"
"Do they have any idea of what is happening outside of the clubby enclaves of the Washington-New York metroplex, the Hamptons, and the City of London?"
"Do they understand what is happening in the global currency markets and the way in which they are evolving? I see little evidence of that. They are stuck on some fairly narrow self-interests and issues."
And here we come to his money shot:
"Do they look for anything beyond their comfortably entrenched place in the status quo or does this bring too much fear and even desperation? Its a common problem for many, but few see it in themselves. But they are quick to point to it in others."
"I think that quite a few economists and pundits might be in for yet another rude surprise (again) in the not all that distant future, because it looks like a sea-change is coming, slowly but surely."
http://jessescrossroadscafe.blogspot.com/2013/04/gold-daily-and-silver-weekly-charts_16.html
Sure enough. The anti-metal prancers would do well to look at a 5-year chart of gold and silver. There they'll find a 30% decline in gold and a 60% swoon in silver in the six months ending in AUGUST 2008. We all know what happened next.