The top 5 holdings in the Tocqueville Gold Fund were:
- Newmont Mining
- Osisko Mining
- Randgold Resources
- Silver Wheaton
Hathaway also said silver in a recession would be treated harshly by the market.
“Typically, if gold does well, silver usually catches up,” he added.
Asked what he’d prefer if offered an equal dollar amount of gold or silver, trader Brian Kelly said, “I would probably take the gold, put it in a safe and I’d buy Silver Wheaton because I don’t have to worry about the cost there. They simply just resell the silver.”
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Trader disclosure: On Dec. 29, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Najarian is long AAPL call spreads; Najarian is long AKS call spreads; Najarian is long PNC call spreads; Najarian is long RIMM call spreads; Najarian is long DG call spreads; Najarian is long WHR call spreads; Najarian is long MOS call spreads; Najarian is long WFT call spreads; Najarian is long CIGX; Najarian is long CME; Najarian is long CBOE; Weiss owns AAPL; Weiss owns EUO; Weiss owns FXA; Weiss owns QCOM; Weiss owns KO; Weiss owns AMLP; Weiss owns NS; Weiss owns NIHD;
Shelter Harbor Capital is long IWM
Shelter Harbor Capital is long KRE
Shelter Harbor Capital is short UTX
Shelter Harbor Capital is short Yen
Shelter Harbor Capital is short Pound
Shelter Harbor Capital is short Eurostoxx
Hathaway owns TGLDX