gold coins with stock market graph

Nick Barisheff: Time to Get in Gold, Stock Market Due for Major Correction youtu.be

The stock market's upward climb can't continue forever, and many investors are going to get hurt when its run eventually comes to an end.

That's according to Nick Barisheff, CEO of BMG Group. Speaking to the Investing News Network, he said investors would do well to take a step back before it's too late.

"The market is due for a major correction. What will cause it and when it will happen is anybody's guess — it could be tomorrow, it could be six months from now," he said.


Typically investors are slow to get out of the market once a crash begins, Barisheff explained. They lose 10 to 20 percent one day, but hold on with the hope of a recovery. When that turnaround fails to emerge, their losses continue to mount. The solution, said Barisheff is to get out before the carnage.

"When markets get precarious like this, when you're at the edge of a cliff, you step back," he said. "Take your money off the table. Because even if you're making 10 percent a month (in the stock market), is it worth the 10 percent in risking a 50 to 70 percent loss?"

Exiting the market might typically mean going into cash, but Barisheff pointed out that in today's world investors need to go a step further due to currency devaluation.

"Instead of taking your money off the table and going into cash … you go to gold (because cash is devaluing daily). Gold will at least hold its own and probably appreciate … so by sitting it out in gold you can wait until the market finishes correcting and then buy back in," he said,

"There'll be some spectacular deals then. That's when you want to buy."

Watch the interview above for more from Barisheff on gold and the stock market.

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Featured
Delivering long-term value from an unmatched portfolio of world-class, long-life operations and a robust organic project pipeline Newmont Corporation announced its 2022 outlook * with attributable gold production guidance of 6.2 million ounces and AISC ** of $1,050 per ounce at an $1,800 gold price assumption. Total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces in ...

Delivering long-term value from an unmatched portfolio of world-class, long-life operations and a robust organic project pipeline

Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced its 2022 outlook * with attributable gold production guidance of 6.2 million ounces and AISC ** of $1,050 per ounce at an $1,800 gold price assumption. Total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces in 2022 and improve longer-term, with declining costs through investments in new, lower-cost production and benefits from Full Potential improvements.

read more Show less
Download a PDF of detailed drill hole results for Wasamac YAMANA GOLD INC. is pleased to announce the following updates. At Wasamac, exploration has defined an entirely new shear zone which demonstrates the excellent exploration potential and opportunity to further grow the mineral inventory and support a production platform of 200,000 ounces per year over a mine life of at least 15 years, significantly improving ...

Download a PDF of detailed drill hole results for Wasamac

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") is pleased to announce the following updates.

read more Show less
Donlin Gold LLC owned 5050 by Barrick Gold Corporation and NOVAGOLD RESOURCES INC. is pleased to report progress made during the executive management workshop and site visit in early September between senior representatives from Barrick and NOVAGOLD, as well as the Donlin Gold management team. Additional assay results for 18 completed drill holes, plus partial results for 22 holes from the 2021 drill program are ...

Donlin Gold LLC ("Donlin Gold"), owned 5050 by Barrick Gold Corporation ("Barrick") (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. ("NOVAGOLD") (TSX, NYSE American: NG), is pleased to report progress made during the executive management workshop and site visit in early September between senior representatives from Barrick and NOVAGOLD, as well as the Donlin Gold management team. Additional assay results for 18 completed drill holes, plus partial results for 22 holes from the 2021 drill program are reported below.

  • During the September 2021 executive management meetings in Alaska, the combined team reaffirmed its confidence in the deposit and charted a course toward advancing the project up the value chain
  • In addition, senior executives, including Barrick and NOVAGOLD CEOs Mark Bristow and Greg Lang, met with local stakeholders as well as senior Alaska Federal and State government officials who expressed their continued strong support for the project
  • Assay results from approximately 65% or 15,700 meters of drilling continue to support the global resource estimate, recent modelling concepts, and strategic mine planning work
  • With a progression plan in place, subject to results from the upcoming drill program the partners are well positioned to be able to proceed with a feasibility study update in 2022

2021 Drill Program Delivers Consistent Results

read more Show less

MARKETS

Markets
TSX20762.03+297.43
TSXV910.22-7.70
DOW34639.79+617.75
S&P 5004577.10+64.06
NASD15381.32+127.27
ASX7235.90-20.10

COMMODITIES

Commodities
Gold1770.27+1.41
Silver22.41+0.04
Copper4.28-0.02
Palladium1783.01+8.01
Platinum937.51+1.75
Oil67.13+0.63
Heating Oil2.110.00
Natural Gas4.12+0.07