Click here to get this article in PDF
MarketWatch/Negam Arora/8-18-2020
“Buffett has not been a fan of gold. As a matter of fact, he has often derided the precious metal. To the dismay of gold bugs, Buffett has been the de facto leader of the anti-gold crowd. There has been a belief that investing in gold was akin to betting against America. Buffett deserves credit for shifting his stance to the new reality as a result of the irrational policies of massive borrowing and money printing by U.S. leaders.”
USAGOLD note: Much debate has grown up around Buffett’s purchase of Barrick Gold stock. Though he did not purchase the real thing, it is the psychological aspect of the position for the rest of the financial community that carries the most importance. At the risk of stating the obvious, even stock ownership sends a signal that Berkshire anticipates accelerated demand for the metals. Perhaps, like a good many of us, Berkshire sees a long term future for gold the result of widespread interest from the financial sector and central banks.