As gold continues to fall, are we seeing a bottom in the metal? That may very well be the case, according to CNBC’s Jim Cramer. Talking Numbers discusses.
As gold continues to fall, are we seeing a bottom in the metal? That may very well be the case, according to CNBC’s Jim Cramer.
Speaking on CNBC’s “Squawk on The Street” today, Cramer said:
“I look at these moves and I find them breathtaking because it’s so clear—again on of the things I talk about with Squawk and our cross talk—so many people are poorly positioned. And I think gold has some value here. I think silver has some value here but they are still downgrading…Credit Suisse downgrades a lot of the miners. Have you seen those stocks? I mean, the stress!”
He then went on to say:
“The Chinese buy gold, india buys gold, they’re not buying any gold the actual buyer has been taken out of the market. The financial buyer seems to be blown out by margin calls. It is breathtaking.”
“Cramer is completely right,” says CNBC contributorRead More »from Cramer: Why There Could Be Value in Gold