Gold expert makes the case for precious metal to mitigate investors’ portfolio losses
by James Burton
Wealth Professional
Google the term “stay invested” and within seconds you’re presented with 130 million suggestions. It’s been a much-repeated mantra during these stressful but a well-known gold expert believe this advice is “totally misguided” in the current environment.
Nick Barisheff, of BMG Group Inc, believes said the asset class was misunderstood and ignored by retail advisors, financial advisors and pension managers during normal market conditions. Many did not realise, he added, how gold becomes a safe haven during market stress to mitigate portfolio losses.
As a result, Barisheff has warned that baby boomers’ dreams of retirement are “quickly evaporating” amid the COVID-19 crisis that devastated markets last month.