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The Better Trade: Gold Futures or Miners?

Gold futures hit new records three times this week, as the precious metal outperformed stocks, bonds and commodities. Not to be outdone, silver futures hit its highest level since 1980.

As long as governments continue to print money and bail out companies, gold is a good investment because it is a real currency and will continue to climb, said Victor Sperandeo, president of Alpha Financial Technologies.

Sperandeo cited Japan's intervention this week, where it's central bank said it would try and weaken the yen. He said gold traders trade on leverage, so they jump on these kinds of events with a lot of leverage. When a country like Japan prints money to weaken its currency, he explained, the gold traders buy gold and the shorts get squeezed.

The money manager strictly trades gold futures though. Why trade gold stock, which is taxed at up to 40 percent when you could trade futures with a 24.5 percent tax, he asked.

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Trader disclosures for Friday, Sept. 17, 2010:

TIM SEYMOUR
Seymour owns (AAPL)
Seymour owns (BAC)
Seymour owns (MOS)

GUY ADAMI
Adami owns (AGU)
Adami owns (BTU)
Adami owns (NUE)
Adami owns (C)
Adami owns (GS)
Adami owns (INTC)
Adami owns (MSFT)
Adami’s wife works at Merck

BRIAN KELLY
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (ORI)
Accounts managed by Kanundrum Capital own (RGR)
Accounts managed by Kanundrum Capital own U.S. Dollars
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (POT) calls
Accounts managed by Kanundrum Capital own Swiss Francs
Accounts managed by Kanundrum Capital are short Euros
Accounts managed by Kanundrum Capital are short (BCS)
Accounts managed by Kanundrum Capital are short (IAI)
Accounts managed by Kanundrum Capital are short (XLF)
Accounts managed by Kanundrum Capital are short (OIH)
Accounts managed by Kanundrum Capital are short (BA)
Accounts managed by Kanundrum Capital are short Mexican Peso
Accounts managed by Kanundrum Capital are short U.K. Pound

JOE TERRANOVATerranova Owns (APA)
Terranova Owns (AAPL)
Terranova Owns (ARUN)
Terranova Owns (BMO)
Terranova Owns (C)
Terranova Owns (DO)
Terranova Owns (EOG)
Terranova Owns (FCX)
Terranova owns (FTO)
Terranova Owns (XBI)
Terranova Owns (GS)
Terranova Owns (HES)
Terranova Owns (IBM)
Terranova Owns (JOYG)
Terranova Owns (NBR)
Terranova Owns (NOV)
Terranova Owns (OXY)
Terranova Owns (ORCL)
Terranova Owns (PEP)
Terranova Owns (POT)
Terranova Owns (RSH)
Terranova Owns (GLD)
Terranova Owns (SLB)
Terranova Owns (SWN)
Terranova Owns (SU)
Terranova Owns (SPLS)
Terranova Owns (RIG)
Terranova Owns (UPL)
Terranova Owns (MA)
Terranova Owns (VRTS)
Terranova Owns (JOYG)

Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DLUEY)
Virtus Investment Partners own more than 1% of (DRYS)

MICHAEL BLOCK
***No Disclosures***

VICTOR SPERANDEO
***No Disclosures***

CNBC.com with wires.