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POSTED ON July 25, 2017  - POSTED IN Key Gold Headlines

Despite what Warren Buffet might tell you, there are good reasons to buy gold.

In a speech several decades ago, the billionaire basically called the yellow metal useless.

[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again, and pay people to stand around guarding it. It has no utility.”

In the first place, the statement is patently false. Gold is increasingly being used in technological applications from biomedical processes to energy production. But even if Buffet was right and there were no practical uses for the yellow metal, there would still be good reasons to buy gold – starting with the fact that gold is money.

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