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POSTED ON August 21, 2020  - POSTED IN Friday Gold Wrap

It was a volatile week in the gold and silver markets after last week’s correction with big swings up and down. Early this week, gold enjoyed a rally back above $,2000 after we learned Warren Buffett has gotten into gold. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about Buffett’s move into gold and what it means and why we shouldn’t worry about big corrections during this bull run. He also highlights some of the economic data that makes him less than optimistic about a quick recovery.

POSTED ON August 19, 2020  - POSTED IN Peter's Podcast

Gold rallied back above $2,000 on Tuesday (Aug. 18) driven in part by Warren Buffett’s sudden interest in the yellow metal.

Peter Schiff talked about gold’s rally and the weakness of the dollar on his podcast and focused on the lack of financial media coverage of Buffett’s purchase of Barrick Gold. Of course, they mentioned it, but they didn’t really delve into the significant questions raised by Berkshire Hathaway’s move into gold mining stocks. In effect, Buffett sold banks and bought Barrick Gold.

He basically reduced his bets on banks and made a brand new bet on gold, which is, in effect, a bet against the US, against the dollar, pro-gold.”

POSTED ON August 17, 2020  - POSTED IN Peter's Podcast

Warren Buffet has bought into gold.

Gold mining to be specific. Peter Schiff talked about what Buffett is telling us in his podcast.

According to the latest 13F filing by Berkshire Hathaway, the company now has positions in Barrick Gold to the tune of over $500 million. This was as of the end of June. Peter said he suspects Berkshire Hathaway has a lot more shares now.

POSTED ON April 3, 2019  - POSTED IN Guest Commentaries

As you probably know, Warren Buffett has never been a fan of gold and has publicly disparaged the yellow metal on more than one occasion. About a year ago, he compared investing in gold and stocks, arguing that over the long term gold is an “unproductive asset” that “doesn’t produce anything.” So, why have it, unless you just want something to “fondle.” At the time, we argued that Buffet’s comments fall apart when you realize that gold is money. After all, I doubt you would ever hear him say “never hold cash because it’s an unproductive asset.”

Well, Buffet is at it again.

POSTED ON May 21, 2018  - POSTED IN Key Gold Headlines

Warren Buffett has never been a fan of gold and has publicly disparaged the yellow metal on more than one occasion.  During his annual shareholders meeting earlier this month, he compared investing in gold and stocks, arguing that over the long term gold is an “unproductive asset” that “doesn’t produce anything.” So, why have it, unless you just want something to “fondle.”

But is Buffett really making an accurate comparison? Or is this a proverbial apples and oranges scenario?

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