Gold stocks and ETFs to buy right now, according to the pros

Macroeconomic uncertainties and mounting geopolitical tensions have given gold — the classic "safe haven" asset — a boost. Gold prices topped $2,400 an ounce in April as tensions in the Middle East escalated. Spot gold is currently trading around 12% higher over the year to date. Kevin Teng, CEO of wealth manager Wrise Group, said he expects the precious metal to yield substantive returns in the long term.

25, benefitting from strong production and higher sales as the world's largest gold miner. This, indeed, presents a promising outlook for investors seeking to capitalize on the bullish momentum in the gold sector," Teng said. Elsewhere, Will McDonough, CEO of merchant bank Corestone Capital, said he's betting on Coeur Mining and Hecla Mining , both of which are listed on the New York Stock Exchange.

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Gold Offers Protection Against Equity Market Weakness, Says ExpertGeorge Milling-Stanley, a gold expert and chief gold strategist at State Street Global Advisors, believes that owning gold bars provides protection against potential weakness in the equity market. He explains that gold offers an extra level of protection compared to equities, which tend to go down with the general level of the equity market. Milling-Stanley also highlights the difference in gross expense ratios between gold ETFs, such as GLD and GLDM, which attracts different types of investors.
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