Jim Cramer Sends Message to Investors on Popular Safe Haven Asset

Gold is one of the most widely known safe haven investments that people flock to during times of economic uncertainty.

But, CNBC Mad Money host Jim Cramer isn't a fan of gold right now. On Thursday, May 7, Cramer made it clear that he thinks gold is going down and it hasn't nearly hit the bottom yet.

So, Cramer had no hedging, no hand-wringing, just a firm step back from the safe haven asset.

On Thursday, a caller on CNBC's "Mad Money" Lightning Round asked him about Agnico Eagle Mines. Cramer didn't dismiss it outright, but he used it as a way to talk about something bigger than just that stock.

"You would be in the best one," Cramer said of Agnico Eagle Mines, but added, "I am not bullish from gold right now. I remember we had the great Larry Williams on, and he said, 'Listen, gold is going lower.' I'm with Larry."

Williams is a veteran futures trader known for his timing models and market indicators. He's said before that gold will head lower in 2026, according to StockCharts.

Cramer giving this take on gold is a noticeable shift, since it's at a moment when much of Wall Street still sounds comfortable going the other way.

Gold Is Coming Off a Big High of $5,589.38

It's worth noting that gold isn't exactly collapsing. It's just coming off a very big high. The metal is trading around $4,867 per ounce, roughly 13% below its January 28 peak of $5,589.38, according to GoldSilver.com.

Gold had a huge year in 2025 and went up around 65%, thanks to central bank buying, inflation anxiety, a softer dollar and geopolitical tension tied to the Iran conflict. So, the 13% pullback from the highs isn't dramatic on its own, but it does mark a clear break in momentum. That's where the argument starts to split: Is this just a cooling-off period after an overheated run or the beginning of something more sustained?

Time will tell, but ask Cramer, and he's not willing to risk putting more of his dollars into the gold market. Of course, check with your financial advisor before you make any investment moves.

This story was originally published by Men's Journal on May 10, 2026, where it first appeared in the News section. Add Men's Journal as a Preferred Source by clicking here.

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This story was originally published May 10, 2026 at 7:37 PM.