“If you want to be in gold, you’re better off, it’s simpler to be in gold itself than be in mining shares,” Friedberg said in the article.
Miners and producers carry additional risks, such as management styles, depleting deposits, regional conflicts, strikes, infrastructure concerns and financing, among others.
Gold was trading at around $1,550 Tuesday, but Friedberg believes the recent weakness is only a temporary correction in a long-term uptrend. [Gold ETFs Decline in Risk-Off Trade]
Gold ETFs include:
- SPDR Gold Shares ETF (NYSEArca: GLD)
- iShares COMEX Gold Trust ETF (NYSEArca: IAU)
- ETFS Physical Swiss Gold Shares ETF (NYSEArca: SGOL)
Market Vectors Junior Gold Miners
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.