Investors searching for a safe haven from the markets recent volatility should buy gold, Ambrosino Brothers' Senior Vice President Todd Colvin said Monday.
"I think gold is a big buy here with all you don't know about what the Fed's doing, what you don't know about what's going on in the Middle East and as a buy-and-hold instrument, I think it still has a lot of value," he told CNBC's "Power Lunch."
Colvin made his remarks on a day in which the Dow Jones industrial average underwent two triple-digit moves. The blue-chip index opened Monday's session by dropping more than 100 points, only to rally and trade more than 150 points in positive territory. Click here to see where U.S. stocks are trading now.
Gold, on the other hand, has been much less volatile, he added. The precious metal settled at $1,218.60 an ounce, its highest settle since Feb.13.
"I'd rather be long gold and go down with this ship than be chasing it with the idea that my fiat currency isn't worth the paper that its printed on. I think gold is a good stash-and-hold. I certainly don't think it's an investment you want to retire on, but when you look at yields in the U.S. at a 1.85 [percent] 10-year and 2.5 [percent] 30-year, and stock markets at their highs, I think you should put a little money away and come back to it when you need it," he also said.
Colvin also added that investors could buy gold via the GLD ETF or by purchasing physical gold. "The ETF is probably the easiest way for investors to get involved. Physical gold is another way … but I think you want to keep it macro and buy on dips."
As of Monday afternoon, the GLD ETF was up nearly 3 percent this year.