The geopolitical situation with North Korea has been heating up again, after Kim Jong Un threatened to launch a missile toward the U.S. territory of Guam.
Some recent reports from the Associated Press suggest that North Korea plans to fire four ballistic missiles towards Guam, and have those missiles hit the water from 19 to 25 miles away from the U.S. territory in the western Pacific Ocean. Regime officials in North Korea reportedly plan to present a proposal to Kim Jong Un for approval within a week, and this news has invoked a strong response from U.S. President Donald Trump, who said on Tuesday, "they will be met with fire and fury like the world has never seen."
Trump has since said the U.S. is "locked and loaded."
With this situation heating up literally by the minute, it's time to take a look at the chart for the SPDR Gold Trust ETF (GLD) . TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, also said investors can buy the GLD ETF or Randgold Resources Ltd. (GOLD) . Here's the rest of Cramer's suggestions in case further action is taken.
Shares of the SPDR Gold Trust have had a strong rally over the last six weeks, after it double-bottomed in early July at $114.80 a share. That double-bottom was confirmed after GLD found some buyers just above some previous support near $114 a share. Following that bottom, shares of the SPDR Gold Trust rallied sharply, moving back above both its 200-day and 50-day moving averages.