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A Precious Metal Poised to do Better than Gold?

Tuesday, 7 Sep 2010 | 6:57 PM ET
Gold vs. Silver
The charts indicate that gold could be headed higher, but not as much as silver, says Cramer.

As Cramericans know, every investor should own some gold. But Cramer on Tuesday said it may be time to look at another precious metal, too.

Having some of the precious metal in your portfolio is diversification insurance against a reversal in the market, such as Tuesday's. Gold tends to go up in response to economic chaos, Cramer said. The "Mad Money" host favors SPDR Gold Shares , an exchange-traded fund that owns gold so you don't have to. He also likes gold bullion, which is the physical bricks of gold. As far as gold miners go, he prefers Agnico-Eagle and Eldorado Gold .

Looking at the charts, as interpreted by technician Dan Fitzpatrick, Cramer thinks another precious metal is poised to do even better. Silver, he said, has outperformed and is up by 17.4 percent this year versus a 13.5 percent gain for gold. Watch the video to see why Fitzpatrick's reading of the charts shows silver could continue to deliver larger profits.

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