Jim Cramer on gold

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Jim Cramer on gold

posted on Nov 04, 2010 09:08PM

Published: Thursday, 4 Nov 2010 | 3:23 PM ET

By: Tom Brennan
Web Editor, Mad Money

Cramer on Thursday said he agreed with renowned investor Julian Robertson of Tiger Management that buying the gold miners was “a really good call.”

Finding costs for these companies now are so low, Cramer said, “They can just spew cash forever.”

For those who want to own gold itself, Cramer urged them to ignore the commodity’s price, which is at $1,381. A better gauge of when the run in this precious metal has ended will be its size in the average portfolio. Right now it’s at just 0.6 percent of the typical portfolio. Cramer recommended holding on until that number reaches 4 percent to 5 percent.

“Then we will be able to take it off the table,” the “Mad Money” host said.