NEW YORK (TheStreet) -- "When people think about what percentage of their portfolio should be insurance, they should think maybe 20% and do it with a gold stock," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday.

He said the gold stock to own is Gold Fields ( GFI, and he agreed with CEO Nick Holland that gold could go higher. He also liked Agnico-Eagle ( AEM - Get Report) and said "you could also do" the SPDR Gold Shares ( GLD - Get Report).

Gap ( GPS - Get Report) "did a great number," said Cramer. He praised the Barclays analyst who'd recommended it before earnings. "That guy nailed it entirely," he said.

Cramer didn't recommend Gap, saying that the trade was on its earnings reports and it could "go to $19, $20, not that much." He preferred Urban Outfitters ( URBN - Get Report) and JC Penney ( JCP - Get Report), which he said is "running ahead of plan" and on track to have a "great year."

AIG ( AIG - Get Report) "was really just an incredibly over-shorted stock," said Cramer. Though ultimately the shorts were right, he said, they "didn't count on Benmosche coming in." Cramer said that incoming President and CEO Robert Benmosche "is a great leader" and that AIG "was too heavily shorted for any good news."

-- Written by Rebecca Corvino in New York.