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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 08/11/2010 : 21:16:27
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Why You Should Buy Gold Right Now - Mad money
Why You Should Buy Gold Right Now
Published: Wednesday, 11 Aug 2010 | 7:32 PM ET Text Size By: Tom Brennan
Web Editor, Mad Money
If Cramer is right about a sell-off coming early on Thursday, then that could be “your dream come true” to buy gold.
See, according to US Global Investors—“the best source on gold that I know of,” Cramer said—the gold stocks have jumped an average of 8.34% each September for the past 17 years, making right now a great time to buy in.
Investors always want at least some gold exposure in their portfolios, as it protects against inflation and overall market instability. But there’s another reason that Cramer’s bullish on the precious metal right now: scarcity.
Most of the world’s gold reserves have already been discovered. That’s why Kinross Gold [KGC 15.24 -0.43 (-2.74%) ] was willing to pay $7 billion for RedBack, a gold company with mines in Western Africa. The same West Africa that is home to Mauritania, Cramer said, which has endured two coups in the last five years and human slavery is still in widespread practice. Most likely Kinross would never risk such an area if gold could be found anywhere else.
And believe it or not, but that $7 billion Kinross is paying might not be enough. Cramer said there is speculation that even higher bids are possible, which is another sign that gold is scarce.
So how do you play it? In this order, Cramer said: the SPDR Gold Shares ETF [GLD 117.33 -0.40 (-0.34%) ], gold coins, bullion (if you can afford the depository bank) and high-quality stocks like Agnico-Eagle Mines [AEM 60.30 -0.56 (-0.92%) ].
This confluence of events—the scarcity, seasonality—as well as what Cramer sees as a growing demand for gold by the middle classes of developing nations like China and India, could push the price per ounce to $1,300 in September, he said. That’s up from $1,190 where it closed today, a sizable jump for anyone who wants to play the trend.
“I think the clock is ticking before gold's next big run,” Cramer said. “Use tomorrow’s pending ugliness to buy some if you haven't already.”
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Think positive. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 08/11/2010 : 21:19:53
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| I vote gold coins |
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PennyPauper
Penny Collector Member
USA
395 Posts |
 Posted - 08/11/2010 : 22:32:01
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| Why would there be a sell off on thursday? |
Available again! $100 of Copper Lincoln Memorials for $145 shipped. |
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frugalcanuck
Penny Pincher Member
Canada
103 Posts |
Posted - 08/11/2010 : 22:47:52
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| well lets wait and see |
One box of Nickels
11.65% .999 Ni |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 08/11/2010 : 22:54:22
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quote:
Originally posted by PennyPauper
Why would there be a sell off on Thursday?
We might see $17.50 silver tomorrow too. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 08/12/2010 : 09:03:01
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| Usually when Cramer says to buy, its time to sell... |
"All tyranny needs to gain a foothold is for people of good conscience to remain silent."
-Thomas Jefferson
"There is no difference between communism and socialism, except in the means of achieving the same ultimate end: communism proposes to enslave men by force, socialism—by vote. It is merely the difference between murder and suicide." - Ayn Rand
________________________________________________
Lenin: Class-based International Socialism
Hitler: Race-based National Socialism
Obama: Class- and Race-based Post-National Socialism
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frugalcanuck
Penny Pincher Member
Canada
103 Posts |
Posted - 08/12/2010 : 09:43:13
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Gold up
Silver up
Platinum up |
One box of Nickels
11.65% .999 Ni |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 08/12/2010 : 09:49:27
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IMO
$17 seems to be the floor to consider which has yet to be reached.
Other than that things look positive for PM's! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 08/12/2010 : 11:59:03
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PMs are going up from here. Only minor pullbacks now as we enter the best time of the season for GOLD and SILVER. Further, FED statements that they are going to monitize Treasury debt earlier this week will be an additional factor to increase interest in PMs. IMHO, the PM train is leaving the station real soon.  |
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 08/12/2010 : 15:33:35
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| Haha, gold is up today. I guess Cramer was wrong about that "sell off", like usual. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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mjcurley3
Penny Sorter Member
USA
32 Posts |
Posted - 08/12/2010 : 17:45:21
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| kramers a douche |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 08/12/2010 : 18:24:33
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quote:
Originally posted by AGgressive Metal
Haha, gold is up today. I guess Cramer was wrong about that "sell off", like usual.
Which sell-off? 
DOWJONES 10,319.95 -58.88 -0.57%
NASDAQ 2,190.27 -18.36 -0.83%
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Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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argent_pur
Penny Sorter Member
78 Posts |
Posted - 08/12/2010 : 18:28:46
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This is why I don't pay attention to short-term predictions...
If the financial airwaves weren't clogged with people making up BS claims about what's going to happen tomorrow or next week or next month, there'd be no reason for people to watch, and, thus, no reason for paid advertisements on those networks.
Crystal balls do exist, but they're all busted... |
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fb101
Administrator
USA
2856 Posts |
Posted - 08/12/2010 : 18:52:46
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quote:
Originally posted by argent_pur
This is why I don't pay attention to short-term predictions...
If the financial airwaves weren't clogged with people making up BS claims about what's going to happen tomorrow or next week or next month, there'd be no reason for people to watch, and, thus, no reason for paid advertisements on those networks.
Crystal balls do exist, but they're all busted...
And who is busting our Crystal Balls? The gov't? |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 08/12/2010 : 20:51:47
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quote:
Originally posted by fb101
quote:
Originally posted by argent_pur
This is why I don't pay attention to short-term predictions...
If the financial airwaves weren't clogged with people making up BS claims about what's going to happen tomorrow or next week or next month, there'd be no reason for people to watch, and, thus, no reason for paid advertisements on those networks.
Crystal balls do exist, but they're all busted...
And who is busting our Crystal Balls? The gov't?
JPMorgan  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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BuY GOLD NOW : Cramer
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