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Is Gold the Next Bubble?

Cramer is often asked how gold can continue to rally and yet still make money, suggesting the precious metal is a bubble about to burst. But the "Mad Money" host on Thursday wouldn't even entertain the idea.

Gold is not a commodity, he explained, it's a currency. But unlike other forms of money, it can't be printed or manufactured. And despite the rally, miners are having difficulty finding more of the stuff. For that reason, Cramer thinks gold will continue to push higher.

He's said gold goes to $2,000 an ounce, but that's only in the short-term. He doesn't know how high it will eventually go if and when the run ends.

What's important to know, Cramer said, is that most people don't own gold. It's in less than 1 percent of all portfolios in aggregate, he noted. He thinks gold will peak when it's owned by 5 percent of all portfolios worldwide.

"We've got a long, long time before this currency is represented in the gigantic portfolios around the world," Cramer said. "Until then, keep buying."

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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