Buying gold is the "sure way to preserve your wealth," said Ivory Johnson, director of financial planning at the Scarborough Group.
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.
No immediate information was available for Johnson or his firm.
Top Gold Mining Firms:
Freeport McMoRan Copper & Gold