Jim Cramer Says He Likes Agnico Eagle But Believes Gold Is Going Lower

Agnico Eagle Mines Limited (NYSE:AEM) was among the stocks Jim Cramer commented on as he advised investors on how to take advantage of Wednesday's market rotation. A caller asked if the stock is a buy, sell, or hold. In response, Cramer said:

Okay… I say, as much as I like Agnico and you know I do, Al-Joundi's a terrific CEO, I am not going to recommend gold. I still think it has a little further to fall… I believe in gold, but I think it's going lower.

Agnico Eagle Mines Limited (NYSE:AEM) is a gold mining company that explores for and produces precious metals, including gold, silver, zinc, and copper. During the May 7 episode, a caller asked for a next six-months prediction for the stock, and Cramer responded:

You're in, you would be in the best one. I don't think, I am not bullish on gold right now. I remember we had the great Larry Williams on, and he said, listen, gold is going lower. I'm with Larry.

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