Brian Kelly Is Bullish On Gold (GLD, GDXJ)

Brian Kelly commented on CNBC's Fast Money Final Call Iranian decision to convert 45 billion euros in dollars and gold. Brian Kelly believes that Iran's decision to buy gold could be politically and economically motivated. U.S. and other Western countries may start to buy gold as a strategic asset, if Iran and other countries that are hostile to U.S. start to accumulate gold. Iran can't do much alone, but if this becomes a part of some bigger strategy we will see a bubble like elements in gold. If gold becomes the currency of choice than the one who owns the most of it will be the winner. Brian Kelly thinks that it would be wise to have some exposure to gold at this point. He has a long position in SPDR Gold Trust (ETF) GLD and Market Vectors Junior Gold Miners ETF GDXJ. Mr. Kelly thinks that when gold starts to move up, big mining companies will start to buy small mining companies. This scenario will increase the price of Market Vectors Junior Gold Miners ETF GDXJ.