Mad Money of CNBC. Written by Tom Brennan. Dec. 17, 2010. View Original Article
Any dips in gold’s price these days are “gifts,” Cramer said during Friday’s “Stop Trading.”
The “Mad Money” host was emphatic that gold was now a currency and not a commodity, and therefore investors shouldn’t treat the precious metal as if it were, say, copper. Plus, gold’s popularity among the growing middle classes of China and India, in addition to the lack of new, viable mines coming online, have created a classic supply-and-demand situation, and that is what’s driving up the price. He expects that price to reach $2,000 about five years from now.As for plays on gold, Cramer remains bullish on NovaGold Resources and Agnico-Eagle Mines, though both stocks lately have been weak. He called them “solid” stocks and said NG should climb to $20.
AT&T is in “a bull market that nobody cares about,” Cramer said. Despite announcing a 300-million-share buyback and upping its dividend by more than 2 percent, the Street has barely taken notice.
“Why are we yawning?” Cramer asked. “This is great.”
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When this story published, Cramer’s charitable trust owned NovaGold Resources.
