"You are going to find the markets flopping around like a fish on a hot cement sidewalk," von Pfeil said.
"I really think staying out, keeping your money tucked away in gold, banks that are safe … government-guaranteed banks … it is very unimaginative, not very exciting, but at least you know where your stuff is," he explained.
Von Pfeil is positive that gold will remain a safe haven investment for a long time going forward. The same cannot be said for other commodities as global demand will be affected by continued volatility and uncertainty.
If an investor absolutely must take a position in the currency market, Von Pfeil recommended buying into the dollar simply because "it is the biggest, so-called safest gorilla on the block."
"I just don't think this is the time that one wants to get too sophisticated by going in and out of, for instance, commodity currencies like the Australian dollar, like the New Zealand dollar," he added.
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