Gold Is Still an Attractive Buy: Stock Picker
The Dow is recouping its losses over the past week but fears of national debt burdens are continuing to stir market volatility. Is the worst over or is there more pain ahead? Stephen Wood, chief market strategist at Russell Investments and Jon Fisher, portfolio manager at Fifth Third Asset Management shared their insights.
“This doesn’t do anything to improve investor confidence and this is where strategic asset allocation and long-term discipline allows investors to iron out short-term volatility,” Wood told CNBC.
However, Wood said fundamentals remain largely unaltered from where they were about two months ago.
“We still have an economy that’s growing slowly, core Europe’s doing ok and Asia’s slowing down,” he said.
In the meantime, Fisher said gold is still an attractive buy as prices are expected to rise.
“When you look at the stability of currencies around the globe, gold is a lot more stable and predictable than anyone’s national currency,” he said. “On the stock side, however, mining stocks traditionally don’t make investors money.”
S&P Agricultural Products
- Watch Fisher's Previous Appearance on CNBC (Feb. 17, 2010)
- Watch Wood's Previous Appearance on CNBC (May 6, 2010)
More Market Intelligence:
- Another 'Freefall' to Push Dow Below 5000: Strategist
- Market Volatility to Continue Through 2010: Analyst
- There's Still Time to Get into Gold: Strategist
CNBC Data Pages:
No immediate information was available for Fisher or Wood.