Legendary investor Warren Buffett long refused to invest in gold, saying “it doesn’t do anything but sit there and look at you”. He is right that you could sit and watch your $18t pile of gold, or you could sell the gold and buy productive assets. Or it could be buying gold mining company shares, although these are not a pure gold play as they also have company risk. Why buy gold? Buffett recently stunned the market by reversing his view and buying US$565 million of gold shares.

Source: Stuff September 06, 2020 16:52 UTC