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Warren Buffett Switches from Banks to Gold

One of the most successful investors of the last 50+ years has always had an eye for value. The big headlines on Friday showed that the “Sage of Omaha” was unloading his long-time holdings in U.S.

Photo by Mark Hirschey
Photo by Mark Hirschey

bank stocks and buying gold stocks. At the mid-point of each quarter (August 15 in this case), hedge fund managers are required to release their holdings to the SEC. We have usually reported any unusual moves in the gold market by these hedge fund managers. This time around, there have been more “first time” gold buyers than usual. For instance, Mason Capital Partners, Sandell Asset Management and Caxton Associates all initiated new positions in the SPDR Gold Trust, which has followed the price of gold by rising about 30% year to date. But there’s no question that the most outstanding rookie buyer in the gold market is Warren Buffett.

 

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Now is Not the Time to Sell - 1st American Reserve advises

In times past, gold “spiked” to a peak and then fell back, so that the peak would have been a good time to sell bullion.  That is probably not the case this time. Gold has not spiked to a sharp peak, this time around, as it did in 1979-80. This rise has taken five years and this last rise has been gradual. The 2011 rise from $1,500 to $1,900 was fairly sharp, but gold prices stayed above $1,500 for another 18 months in that case.

 

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The Adens Declare “Gold is the Best Investment in the World Today”

In their popular financial newsletter, Pamela and Mary Anne Aden declared on July 17 that gold is “the best investment in the world today” and told their readers “we want you on board the gold train as it pulls out of the station.”  The Adens outlined some of the reasons why: “Gold is, and always has been, the world’s safe haven. That is, during times of uncertainty, insecurity, economic or political upset, war, devaluations and more, gold has always come out as #1. And this track record goes back more than 5,000 years… 

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The Best Storage Option for Your Precious Metals

Last Tuesday, July 28, 2020 Danielle Braff of The New York Times wrote an article about gold storage, a subject that has interested us for a long time. She interviewed a lot of interested parties, with some fascinating facts, but I’m afraid there was some disinformation presented in the article.  She quoted several operators of private bullion vaults, who had a vested interest in recommending against the use of bank safety deposit vaults.

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Goldman Sachs Raises Their 12-Month Forecast to $2,300 Gold and $30 Silver

Goldman Sachs Raises Their 12-Month Forecast to $2,300 Gold and $30 Silver
Goldman Sachs recently upgraded their 12-month forecast for gold by 15%, from $2,000 to $2,300, and they pushed their silver forecast up 36%, from an already-outdated $22 to $30 per ounce. Continue reading "Goldman Sachs Raises Their 12-Month Forecast to $2,300 Gold and $30 Silver"