Cramer Quick Take: Gold Can Go Back to its Highs

NEW YORK (TheStreet) -- What's the short-term outlook for gold? Jim Cramer told Debra Borchardt at TheStreet.com Friday that the precious metal is likely to head back to its highs by the end of the year.

Cramer said that gold is terrific. Why? Because of supply and demand. He said with so many ailing currencies around the world, demand for gold has been strong. At the same time, the gold miners have been having a harder and harder time finding and getting gold out of the ground.

Cramer said that given the current economic climate, he's now telling investors they can put up to 20% of their assets in gold. Previously, he had only recommended 10%.

Watch the full Cramer interview here.

--Written by Scott Rutt in Washington, D.C.

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