After the rollercoaster ride that took place in the markets Wednesday – following the much desired global coordinated rate cut -- Asian and European markets rebounded Thursday.

But with uncertainty prevailing in these volatile markets, where can investors seek refuge? One common answer has been in gold and cash. Here's what the experts have to say:

Betting on Gold

Invest in gold as it may hit $2,000 a troy ounce in the next 6 months, advises Donald Luskin, CIO of Trend Macrolytics.

"Stores of value, long-term stores bedrock of value, like gold, are going to be the best performing assets over the next couple of years," Luskin said.

"Bet on inflation. Bet on inflation. Bet on inflation. It's the only way to protect yourself," Luskin added.

Hold a Chunk of Gold

"Gold is certainly the safe-haven choice right now…It's a great opportunity at $900 an ounce. It's actually really cheap. We expect it could easily go above $1,000 an ounce by the end of the year" Aaron Smith, MD of Superfund Financial said, adding that other precious metals like silver are also good investments.

"One of the safest things to buy today would be oil," Smith told CNBC.

Support Your Local Currency

The next stage of the turmoil will be in asset prices, which will fall sharply as assets are sold to raise cash, according to Graeme Maxton, chief economist at The Insight Bureau.

"To me, the best thing to be in at this stage, until I see anything different, is cash," Maxton told CNBC. "Stay in the currency in which you need to spend."

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