Consider a 20% portfolio allocation because bullion "could go back to its highs ... by year end," he tells The Street
"I think gold's terrific," former hedge-fund manager and CNBC host Jim Cramer tells The Street in an Aug. 24 sitdown.
"I have been telling people that they can have up to 20% of their assets in gold. ... I've gone up to 20%. I just see there's no other currency to hide in. It's a currency -- gold. The U.S. has to debase its currency; China has to debase its currency. The euro -- it's a race to debase in order to be able to get exports moving. [The euro's] an overvalued currency so people are going to transfer to gold. We had a lot of weak retail hands in gold over the last four months -- [the fall from record nominal highs above $1,900 set last September] shook a lot of them out. ... I think gold's ready for a big run after recharging. ... I think it could go back to its highs and I think that's reasonable to expect by year end."
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