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Gold will reach $ 1,500, says Jim Cramer



  Gold Will Rise to $ 1,500, says Jim Cramer

(Kitco News) – When the gold price closed another grand session and reached new eight-month highs, Jim Cramer of Mad Money said he was a gold. " Creditor.

"We are big gold believers here. Now gold is at $ 1,300, we believe gold will reach $ 1,400 to $ 1,500. We suggest everyone has some gold in their portfolio, "Cramer said Wednesday.

The big news of the day was that the Federal Reserve kept interest rates unchanged at between 2.25% and 2.50% [19659003CramerpointedoutthatFedChairmanJeromePowellhasdonetherightthingbyfocusingon"patience"onfutureinterestratehikes

"Do not listen to the Fed's observers claiming that Powell is the stock market Cramm said, "The only thing Powell has given in is the reality … This is about the economy ̵

1; who does not want a healthy economy? Had Powell stuck to his plan for a series of lockstep rate hikes," Cramer said. would have devastated Main Street much more than Wall Street. "

Asked about First Majestic Silver Corp. (NYSE: AG) During Mad King's round of bouts on Wednesday, Cramer said he likes Gol d rather than silver, adding that silver is likely to rise as well.

"Silver is traded in gold. I prefer gold. My recommendation is to buy [the new] Barrick, not [First Majestic Silver Corp] but silver is rising higher, "he said.

April Comex gold futures have recently traded at $ 1,323.10, up 0.58% from the day while Comex silver was at $ 16.04, an increase of 0.71% during the day.

Disclaimer: are those of the author and do not reflect those of Kitco Metals Inc. . The author has made every effort to ensure the accuracy of the information provided. Neither Kitco Metals Inc. nor the author can guarantee this accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no liability for any loss or damage arising out of the use of this publication.


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