Every investor should own some gold, Cramer said Thursday. After all, the precious metal is a hedge against global economic chaos. It's also in high demand from emerging markets and central banks. Perhaps most importantly, though, it's very scarce.
There are a number of ways to gain exposure to gold, Cramer said. Investors could buy bullion, the actual bricks of gold, but only if they are rich because it costs a lot of money to store it in a depository bank. Another option is to buy gold coins from the U.S. Mint. Home gamers could also buy the GLD , an exchange-traded fund that owns gold so you don’t have to. The GLD is probably the easiest and most straightforward way to own the precious metal, Cramer said.
When it comes to gold miners, Cramer recommends caution because these companies can make mistakes, like any other business. Even with gold prices going higher, picking the wrong miner might not make you as much money as the GLD might have. For those who want to buy a miner, Cramer recommends Goldcorp and Barrick Gold on weakness.
When this story was published, Cramer's charitable trust owned GLD.
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