CNBC’s Jim Cramer on Wednesday told investors that gold is poised to rally, making now an optimal time for investors to pounce.
“The charts, as interpreted by the legendary Larry Williams, suggest that the general public’s giving up on gold en masse and he thinks that that makes it the perfect entry time to do some buying,” the “Mad Money” host said.
Gold futures fell on Wednesday, facing pressure from a stronger U.S. dollar and Treasury yields after Federal Reserve leaders’ hawkish comments on inflation the day before took metals lower.
Gold is considered a safe investment and often attracts investors during periods of economic and geopolitical turmoil.
Cramer began his explanation of Williams’ analysis by examining the weekly action of gold going back to 2014, paired with the Commodity Futures Trading Commission’s Commitments of Traders report data.