Sprott Physical Gold (PHYS-T)

He's not a gold bug, but there's a time and place to own different assets. Tremendous amount of government debt. Central banks around the world are buying gold right now at the greatest pace in a decade. Private investors are not engaged, because they had such a bad experience over time.

Part of a balanced portfolio. Own less fixed income, and more gold as an alternative safety hedge. For the first time in 45 years, less volatile than a treasury bond.

It's a hedge, used to preserve his purchasing power. Happy with the gain YOY.

Forgot gold stocks, but buy this which holds actually gold. Also, it's in USD.

Hold physical hold, not the stocks. With the inflation scare, the price of gold has done nothing, hanging around $1,950, but should be higher. Gold will protect you from higher volatility which he expects.

The CAD can easily go to 65 cents, reflected in the price of gold. Either the TLT or PHY explodes. If we enter recession, TLT outperforms and gold declines.

Gold producers? He prefers to own the Royal Canadian Mint (MNT) and Sprot (PHY.US) and Franco-Nevada (FNV). He likes the physical element. He would also consider the Junior Miners ETF (GDXJ). At some point, there will be a role for gold to help the economy recover.