
TSE:XGD
Gold is a fear-based trade. Big issue is currency. If US dollar isn't seen as the stalwart of the world, that's a good case for gold going up. Gold producers benefit from this. You could also buy GLD. He owns SLV. He'll be wrong if confidence is restored to the US, because then gold won't be a necessity to investors' safety mindset.
He has never been a gold bug, but they keep 3-5% exposure to it. He prefers to pick individual producers with good production growth profiles and strong balance sheets. The recent run to $1450 per ounce has been a good push and he is not sure if that is sustainable. He likes Newmont.