Investors may have an opportune time to start a position on gold or gold securities as the precious metal could be on an upswing, CNBC’s Jim Cramer said Tuesday.
After reviewing chart analysis from Carolyn Boroden, a commodities expert and Fibonacci analyst, he suggested that bullion, the SPDR Gold Shares , or GLD, exchange-traded fund and Barrick Gold are ripe for holding.
“The charts, as interpreted by Carolyn Boroden, suggest that gold prices could have a lot more room to run and that certainly fits with the current backdrop that we see in the news,” the “ Mad Money ” host said.Gold investments can serve investors as insurance against inflation and general economic chaos, Cramer said.Gold futures have risen about 25% year to date, and the price for the precious metal is down 8% from its peak close in early August. It rose about 17 points to $1,909.70 as of […]
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