This post is part of a series in which TheStockAdvisors.com asked financial experts to name their top stock pick if McCain or if Obama wins the election.

"Our pick to profit from a McCain-Palin victory in November is the SPDR Gold Trust (NYSE: GLD), an exchange-traded fund that is designed to reflect the performance of the price of gold bullion," explains Nate Pile, editor of Nate's Notes.

"We would buy gold in order to hedge ourselves against what we expect would be a heightened sense of uncertainty that foreign investors would express (at least initially) if the hard-to-predict 'mavericks' take the helm.

"I also continue to believe that we are still in the early stages of what will prove to be a multi-year boom for commodities, and much of the selling we have seen in gold appears to be for primarily emotional reasons.

"The recent strength of the dollar may partially explain the drop in gold, but for the most part, I think we have simply been witnessing some good old-fashioned panic selling.

"Unlike some other ETFs that invest in precious metals via the buying and selling of futures contracts on the underlying commodities, SPDR Gold Trust (formerly known as the streetTracks Gold Trust) actually buys and sells gold bullion, and each share of the Trust represents approximately 1/10th of an ounce of gold.

"However, while there are certain benefits to actually owning gold itself (as opposed to a derivative contract associated with the commodity), investors need to be aware that gold is considered a 'collectible' by the IRS, and thus investing in this ETF can result in a higher tax rate being applied to any gains that are achieved.

Continue reading McCain stock: Go for gold with SPDR Gold Trust (GLD)

McCain stock: Go for gold with SPDR Gold Trust (GLD) originally appeared on BloggingStocks on Thu, 09 Oct 2008 13:00:00 EST. Please see our terms for use of feeds.