It was disclosed late Friday that Warren Buffett, thru Berkshire, has been buying shares of Barrick Gold. It is out of character for him but good news for me. I have been buying Barrick Gold for quite awhile and was rather aggressively buying in the $12-14 range. It is very comforting to know that he thinks it is a good buy at current prices. However, there is an ominous side to this trade. In my book, INVESTMENT DILEMMA, I write a special note to “Watch Gold”. Significant and extended price movements in the gold market portend a difficult economic environment.
So as I welcome Buffett as a co-shareholder, I urge everyone to “Watch Gold”. In a world of turmoil and fiat money, gold is the only real currency.
For more information: www.reasonatrisk.com scroll the menu or click “blog” and search for Currency In Crisis, Part 2, July 2, 2019 and Currency In Crisis, August, 13, 2018.
Also, INVESTMENT DILEMMA available at online booksellers