'Real Money' Radio Recap: Gold Shines Through Selloff

Stocks may be selling off, but Aaron Task says gold is glittering.

Once again sitting in for the vacationing Jim Cramer on RealMoney Radio, Task told listeners that Friday's selloff is due to Dell's(DELL Quote) lowered guidance and may not be the end of the world. Still, it's a good opportunity to look at gold prices, which have been heading in the other direction, up more than 5% since last month to $445 an ounce.

"Armageddon is not around the corner," said Task, co-executive editor of TheStreet.com. "However, gold is a safe haven against financial distress and should be at least 5% of an investor's portfolio."

Task reminded listeners that people have been flocking toward hard assets such as real estate since the bubble burst, and people need to remember that gold is also a hard asset worth picking up. When everybody is buying gold, said Task, then it's time to leave, but "we are nowhere near that point."

One way to enter the precious metals is to buy gold coins and put them in your safety deposit box. Another method is to buy shares of the streetTracks Gold(GLD Quote) exchange-traded fund, which mirrors the changes in the price of gold.

Real gold bugs may also want to buy large-cap mining stocks such as Newmont Mining(NEM Quote) and Placer Dome(PDG Quote). More speculative gold plays include smaller-cap, "momentum" names like Glamis Gold(GLG Quote), Meridian Gold(MDG Quote) and Coeur D'Alene Mines Corp(CDE Quote).

Yet another way to get into the gold game is by purchasing a mutual fund like the (TGLDX Quote)Tocqueville Gold fund, which Task owns personally.

"If you get a pullback in gold next week, then you should take a look at gold," said Task. "Think about a pinch of gold for your portfolio and don't panic."

Task Wrestles Bradshaw

Task's special guest was John "Bradshaw" Layfield, professional wrestler and stock guru. Layfield professes to be "a buy-and-hold guy who buys on dips, not a heavy daytrader."

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