Cramer: Egypt Speaks to Gold's Importance
Turmoil in Egypt has put a floor in declining gold prices, according to CNBC's Jim Cramer. While he had predicted the precious metal would pull back throughout January before resuming its climb higher, Egypt has served to stop that fall a few days early, as investors seek out the precious metal in such times of volatility.
“I really think that Egypt is another reason why we remember why gold is an important currency,” Cramer said, “and a commodity.”
Posted on January 31, 2011
Email
ShareSign up | Sign in
