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( Kitco News ) – Gold prices might be stuck in a consolidation pattern, but now is the time start building a position in the precious metal, said CNBC’s Jim Cramer and host of Mad Money. Cramer noted that regardless of the election, there are factors that make holding gold a necessity. He noted that the COVID-19 pandemic continues to spread unabated through the U.S., devastating the economy. At the same time, inflation pressures continue to rise as unprecedented stimulus washes through financial markets.
“What do you do; what do you buy if you want some insurance against inflation or just general economic chaos,” he asked. “It’s time-honored. You need some gold.”
Quoting research from Carolyn Boroden, a commodities […]
November 5, 2020 (updated November 5, 2020) Published by StockMan