Inflation appears to have become a bit more worrisome, and gold serves as a nice inflation hedge. Official statistics for January calculated U.S. annual inflation at 2.5%, while February was running at 2.7%. It's been several years since the inflation rate has topped the 2% range.
The positive case for gold seems solid to me. Investors buy gold when they sense danger because gold has an impressive record of preserving wealth through economic depressions, stock-market crashes and every other type of financial or monetary crisis.
(Click here to read more April Trading Strategies columns or here watch a replay of Jim Cramer's April 5 roundtable video with Douglas Borthwick, Stephen Guilfoyle, Peter Tchir and David Yoe Williams.)