“Mad Money” Host Touts Gold At Philly Biz Breakfast
PHILADELPHIA (CBS) – The Greater Philadelphia Chamber of Commerce held its 13th annual economic outlook breakfast at a center city hotel this morning.
Survey results from members of the Chamber were announced, showing that businesses are optimistic about employment, business conditions, and revenue for this year — however there are still concerns about sales growth and employee benefits.
The keynote speaker was Jim Cramer, host of CNBC’s “Mad Money” program. He was offering some investing tips — among them, gold.
“Bullion! I like bullion. Good news: some of the bullion dealers are now about to introduce the gram — not just the ounce of gold — that could make it accessible to more people, I hope. But my favorite way to invest in gold is through a company called Nova Gold, symbol NG. It’s the Canadian American company that has the largest uncapped gold and copper mines in North America,” he told the gathering.
He says he hopes that people take away the idea that they should have some part of their portfolio diversified into gold.
“Everywhere I go, I ask the same question: anybody have gold? I give a lot of speeches, talk to a lot of people, it’s always the same — it’s less than 10 percent of the audience. When it gets to 30 or 40 I’ll rethink my view,” he said.
Cramer grew up in Montgomery County, Pa. and went to Springfield High School.
Reported by John McDevitt, KYW Newsradio 1060.