Gold falls again. Sell? No, buy!
The time is ripe for gold again, Cramer said Monday.
鈥淒o not be dissuaded by today鈥檚 decline,鈥� he said. 鈥淚t鈥檚 another opportunity.鈥�
The 鈥淢ad Money鈥� host believes gold is down because Europe isn鈥檛 collapsing.
As you probably know, Cramer likes the bullion and the GLD. But, he also thinks the individual gold producers are ready to take off after a prolonged period of consolidation and underperformance versus the actual metal.
First, Newmont Mining hit a 52-week high Monday, in part because it鈥檚 talking about a dividend increase as gold goes higher. Gold stocks used to have some of the highest dividends, Cramer said, and he thinks it can happen again.
Second, there's consolidation. For example, Agnico-Eagle Mines just announced it bought miner Grayd.
And third, many of the companies that opened mines over the last few years are beginning to reap the benefits of the expansion. Because of this, Cramer suggests buying Randgold Resources and Goldcorp. If you want a 鈥減lain vanilla鈥� gold company, he suggests Barrick Gold.
The bottom line 鈥� if you don鈥檛 own any gold, use this opportunity to start building a position in the precious metal that is at least more than 10 percent of your portfolio.
鈥淐onsider the sell-off to be a gift that you shouldn鈥檛 be getting given all that鈥檚 wrong in the world now,鈥� Cramer said.
