Cramer: When Will the Gold Rush End?
CNBC's Jim Cramer says he agrees with renowned investor Julian Robertson of Tiger Management that buying the gold miners was “a really good call.” Finding costs for these companies now are so low, Cramer said, “They can just spew cash forever.”
For those who want to own gold itself, Cramer urged them to ignore the commodity’s price, which is at $1,381. A better gauge of when the run in this precious metal has ended will be its size in the average portfolio. Right now it’s at just 0.6 percent of the typical portfolio. Cramer recommended holding on until that number reaches 4 percent to 5 percent.
Posted on November 5, 2010
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