Saturday, April 12, 2008

Cramer says gold headed to $1,600

Cramer, Yamana CEO Talk Gold
In this April 10 'Mad Money' clip, Jim Cramer and Peter Marrone discuss why the market has put gold and the gold stocks in the sell block.
Fri 04/11/08 19:33 PM EST -- Jim Cramer
Stocks in this video: AUY

http://www.thestreet.com/_yahoo/video/cramerinterviews/10411623.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA#10411623

The Street.com just released a video showing Cramer extremely bullish on Gold. He sees it at $1600. He doesn't say when this price will be reached, but knowing Cramer and how he trades, I bet he thinks that won't take too long.
In this video, Cramer interviews the Yamana's CEO.
He mentions at least two great catalysts for gold:
The weakness of the dollar
Uncertainty in this year's election time
He added that there is not enough gold and that the IMF gold will be absorbed immediately as we don't have enough of this PM.
We may like Cramer or not, but I think this event is important to mention for two reasons:
He seems to agree with you and gave exactly the same target price as you. Looks like he is a CIGA member!
I believe he has a pretty big influence among small investors.
You may find the video on the following link: Click here to view the video

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