CNBC Stock Blog

Gold and Gold Stocks Will Protect You: Planner

Buying gold is the "sure way to preserve your wealth," said Ivory Johnson, director of financial planning at the Scarborough Group.

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Adviser: Buying Gold Will Preserve Your Wealth

Johnson told CNBC that he favors gold for two reasons:

1. It is a hedge against a decline in the value of the dollar.

2. It is part of a collection of non-correlated assets that reduce the volatility of the portfolio.

Johnson said gold is different from other precious metals because supply is more limited, in addition to being a traditional store of value.

He also said mining stocks are currently very attractive, and while gold preserves wealth, mining stocks will increase it.

Disclosure:

No immediate information was available for Johnson or his firm.

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Top Gold Mining Firms:

Newmont Mining

AngloGold Ashanti

Barrick Gold

Gold Fields

Freeport McMoRan Copper & Gold

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