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Gold Offers Protection Against Equity Market Weakness, Says Expert

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George 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.

That's according to George Milling-Stanley, one of the world's experts in gold and the chief gold strategist at State Street Global Advisors.

"One of the reasons I own gold bar is that I believe it offers me some protection against potential weakness in the equity market," Milling-Stanley told CNBC's"remember that they're equities, and they tend to go down with the general level of the equity market. So, they're not offering me that extra level of protection."

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyThey're differentiated by their gross expense ratios — 0.40% for GLD and 0.10% for GLDM — and it's this key distinction that also differentiates the type of investor they attract, according to Milling-Stanley.

"If you are someone who wants to trade ... or if you want to be a tactical player — that means you need to be able to move very, very quickly — then GLD's liquidity after 20 years now means that that has very, very low trading costs compared to any other gold ETF," he said."If you have a million dollars and you want to put a million dollars into gold and leave it out there, then GLDM with its lower expense ratio makes more sense for you.

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Investors Advised to Choose Physical Gold Over Gold Stocks for Market VolatilityGeorge Milling-Stanley, chief gold strategist at State Street Global Advisors, suggests that investors should consider investing in physical gold as a means of protection against potential weakness in the equity market. He explains that gold stocks tend to go down with the general level of the equity market, while physical gold offers an extra level of protection. The distinction in expense ratios between gold stocks also attracts different types of investors.
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