Cramer's charts suggest gold could be nearing a bottom [CNBC]
Comcast Corporation - Class A (CMCSA)
Last comcast corporation - class a earnings: 4/30 07:00 am
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Source: CNBC
When investors are worried about rising raw costs and inflation , CNBC's Jim Cramer typically suggests they buy a popular hedge against those economic pressures: gold. But lately, the price of gold has been in a downtrend, sinking roughly 11 percent since its April peak despite concerns about the effects of new trade policies on the U.S. economy. So, to make sense of the move, the Mad Money host turned to technician Carley Garner, the co-founder of DeCarley Trading and author of Higher Probability Commodity Trading. And to Garner, the situation isn't as dire as it seems. Garner believes that precious metals could be ready to snap back, Cramer said on Tuesday. Why? Because the price of gold still hasn't really reacted to the current trade war, or the exploding budget deficit — which a lot of you care about tremendously, of course — or even the recent uptick in inflation, he continued. With inflation on the rise and the government borrowing insanely high, y
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- 1/25/24 - Beat
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