Although gold has had a long tough period, when you get into a equity market crisis, gold doesn’t even need to go up, it just needs hold, so relatively gold still does well in this kind of crisis. Some experts believe that gold will remain the safe heaven in a crisis on long-terms, and others advice to avoid gold stocks. Hear more on gold on CNBC.

Outlook for gold producers? Never owned a gold stock in his life. Don’t look at the 1-year chart, look at the 30-year chart. Barrick is where it was 30 years ago. The only group that’s made money is management. Cost of producing now is much higher. If the whole world falls apart, he’d rather have apples than gold bars. Wouldn’t touch a gold stock. Instead, own great business that are going to increase dividends.

The advice is to avoid gold stocks especially if look at things on long-term, as production costs are now way too high, and it’s only the managers that make money.