The Golden Age

Gold's not stopping. As always, the best way to play it is the actual bullion, but if you wanted to double down, the July 90 calls might be worth buying on a $1,000 breakout, which will call everyone's attention to the precious metal.

But I have to alert you to the Agnico Eagle (AEM - commentary - Trade Now) common stock because, as the CEO told me on Mad Money, this is the breakout quarter. This is the quarter where Agnico's gold is totally unhedged and its production goes into full swing.

I cannot believe how right this moment is for Agnico. It's truly not in the business of doing anything but digging out the cheapest gold and putting it right out on the market. Agnico, Eldorado (EGO - commentary - Trade Now) -- which is a huge buy at $10 and the lowest-cost producer -- and African producer Randgold Resources (GOLD - commentary - Trade Now) are the only three gold producers that make sense to me.

I keep coming back to Agnico because this is the company that wants to do more for its shareholders than any other gold company, almost all of which have been so cavalier and uncaring about shareholders that it's difficult to fathom how bad they've really been.

Is it too late to buy any of these. I don't even think that matters. Buy half, hope that it goes down. I think it won't.

Random musings: I would start a position right here in the iShares Dow Jones Real Estate (IYR - commentary - Trade Now). I'm not enamored of all of the players that make up the index: too much Annaly (NLY - commentary - Trade Now), Plum Creek (PCL - commentary - Trade Now) and Public Storage (PSA - commentary - Trade Now), which are not correlated to what I want. But this group is now liquid and ready to roll -- the dividend is north of 6%, but going down.

At the time of publication, Cramer had no positions in the stocks mentioned.

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Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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