NEW YORK ( TheStreet) -- Gold prices ripped above $1,300 per ounce, but as John Mauldin, president of Millennium Wave Investments, tells TheStreet's Joe Deaux, the daily price fluctuations aren't as important as the long-term moves.Mauldin called the yellow metal a hedge against central bankers, although he doesn't see them doing anything unreasonable anytime soon, with the Federal Reserve on the brink of tapering its stimulus program.
Quick Take: Buy a Little Gold Every Month
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.