Warren Buffet Buys Gold 😊 Buy Gold Silver Now? Barrick Mining News Berkshire Hathaway

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Warren Buffet Buys Gold – Buy Gold Silver Now?
adminnAugust 15, 2020

For years Goldman has made fun of not only pressious metals but the people who invest in them saying things like:

Goldman Sachs has stated the following about Gold:

March 24th 2020:

“We have long argued that gold is the currency of last resort, acting as a hedge against currency debasement when policy makers act to accommodate shocks such as the one being experienced now,”

“We are beginning to see a similar pattern emerge as gold prices stabilized over the past week and rallied [Monday] as the Fed introduced new liquidity injection facilities with this morning’s announcement,”

June 19th 2020:

“However, as we have argued in the past gold investment demand tends to grow into the early stage of the economic recovery, driven by continued debasement concerns and lower real rates,”

April 7th 2020:

GS does “not recommend gold as a strategic asset class in a well-diversified portfolio.”

July 28th, 2020: After raising target of Gold price from 2000$/oz to $2300/oz said:

a potential shift in the U.S. Fed toward an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty, and a growing second wave of CERVESZZZA 1900 related infections,”

“Combined with a record level of debt accumulation by the U.S. government, real concerns around the longevity of the U.S. dollar as a reserve currency have started to emerge,”

“Much will therefore depend on whether investors in the West remain willing to buy large quantities of gold even at the current prices,”

Analysts at the bank also lifted the 12-month forecast for silver by 36% to $30 per ounce

Goldman Sachs Group GS has Climbed 281.2% in the past 20 years

SandP 500 Has Risen 136.3% over the last 20 years
So What Did Goldman Sachs Just Buy and Sell?

They sold:

Goldman Sachs Shares

Occidental Petroleum

Most Shares in Big Banksters like: JP Morgan Chase, PNC, and Wells Flargo

Restaurant Brands International, the owner of fast food restaurants including Burger King and Popeyes, which struggled as customers stayed home more and regional restrictions forced dining rooms to close.

They Bought

More: Kroger ( grocery stores ) and LIberty Media ( Atlanta Braves baseball team, Formula One racing, and Sirius XM Radio)

And $566 Million Worth Of:

$GOLD Barrick Gold

1.8BILLION shares
Market Cap 48 Billion – which has a pretty good valuation to share price ( at least in the MINING sector,)
BUT tons of tentacles in tons of mines.
Many in Nevada ( my favorite place to mine ) Dominican Republic, Argentina, Papau New Guinea ( major problems there, with Govt. Just taking over mines and calling them theirs.) etc.
Is a well known, SOLID Gold and Silver mining play.
IN many NON SWAP nations with United States (not good)

P/E ratio of 11 which is totally fine/good.

Does pay a dividend of 1.04%