Warren Buffett’s Berkshire Hathaway Makes Moves into Gold
ADVERTISEMENT
The Assay - Mining investment news, insights and company profiles
Mining investment news, insights and company profiles
No Result
View All Result
Subscribe
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Africa Insights
  • Videos
    • CEO Interviews
    • Investor Panels & Presentations
  • Company Profiles
  • Magazine
  • Newsletter
  • 121 Mining Investment
  • About
    • About Us
    • Our Team
    • Contact Us
    • Partners
The Assay - Mining investment news, insights and company profiles
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Africa Insights
  • Videos
    • CEO Interviews
    • Investor Panels & Presentations
  • Company Profiles
  • Magazine
  • Newsletter
  • 121 Mining Investment
  • About
    • About Us
    • Our Team
    • Contact Us
    • Partners
No Result
View All Result
Subscribe
The Assay - Mining investment news, insights and company profiles
No Result
View All Result
Home Articles

Warren Buffett’s Berkshire Hathaway Makes Moves into Gold

Amy Rotman, Content Director, The AssaybyAmy Rotman, Content Director, The Assay
18 August, 2020
Warren Buffett’s Berkshire Hathaway Makes Moves into Gold

Berkshire Hathaway Inc., headed by billionaire Chairman Warren Buffett, has added Barrick Gold Corp. to its portfolio, leading to a surge in Barrick’s share price. The purchase of 20.9 million shares, which equals 1.2% of Barrick’s outstanding stock, has a market value of $565 million USD, according to a regulatory filing from Friday, 14 August. Following the purchase, Barrick’s shares rose 7.4% in after-hours trading in New York and have since risen by 14.78% as of Monday, 17 August.

This has been an unexpected move as Buffett has historically not been a fan of gold, however, surging gold prices have, in recent months, been boosting miners profit margins, making them more attractive investments especially for the generalist investors who have not had any interest in the sector for years.

ADVERTISEMENT

There’s been a jump in gold prices over the past few months, as a weak dollar and pullback in US treasury yields has boosted demand for the safe-haven asset.

This move into gold comes as Berkshire Hathaway sold 62% of its stake in JPMorgan Chase & Co as well as 26% of its stake in Wells Fargo & Co, in the midst of the COVID-19 crisis. The firm has also reduced their positions in a number of other financial services firms over the past few months, a sign that the economic downturn and global crisis will last longer, and possibly get worse before it gets better.

TweetShareSend
Amy Rotman, Content Director, The Assay

Amy Rotman, Content Director, The Assay

Amy is the APAC content director for The Assay and 121 Group events. She has been involved in the mining investment space for more than three years, having run conferences and events across the APAC region since she relocated to Hong Kong in 2011 from Canada. Amy coordinates The Assay Live webinar programme and is focused on investment themes relating to the mining industry.

Related Posts

Financiers Lining Up to Fund DeGrey’s Mallina Gold Project
News

Financiers Lining Up to Fund De Grey’s Mallina Gold Project

byColin Sandell-Hay, Contributor - The Assay
9 February, 2023
Kairos Undertakes Successful Extensional Drilling at Mt York Gold Project
News

Kairos Undertakes Successful Extensional Drilling at Mt York Gold Project

byColin Sandell-Hay, Contributor - The Assay
9 February, 2023
Dakota Discovers New Unionville Zone at Maitland Gold Project
News

Dakota Discovers New Unionville Zone at Maitland Gold Project

byColin Sandell-Hay, Contributor - The Assay
8 February, 2023
Golden Minerals Continues its Exploration Success at Yoquivo in Mexico
News

Golden Minerals Continues its Exploration Success at Yoquivo in Mexico

byColin Sandell-Hay, Contributor - The Assay
8 February, 2023
Cosmos Commences Field Activities at Orange East Gold Project
News

Cosmos Commences Field Activities at Orange East Gold Project

byColin Sandell-Hay, Contributor - The Assay
8 February, 2023
G2 Drills Wide Zone of High-Grade Gold at New Guyana Discovery
News

G2 Drills Wide Zone of High-Grade Gold at New Guyana Discovery

byColin Sandell-Hay, Contributor - The Assay
7 February, 2023

Popular Articles

  • The Rise and Rise of Indonesian HPAL – But Can It Continue?

    The Rise and Rise of Indonesian HPAL – But Can It Continue?

    0 shares
    Share 0 Tweet 0
  • Zinc Mining & Market Outlook 2022-2025

    0 shares
    Share 0 Tweet 0
  • The Assay Guide to Palladium vs Platinum

    0 shares
    Share 0 Tweet 0
  • Bolivia Maintains Its Historic Profile as a Global Silver Centre

    0 shares
    Share 0 Tweet 0
  • Japan Entering a Golden Age of Exploration

    0 shares
    Share 0 Tweet 0
  • Home
  • News
  • Articles
  • Investor Discussions
  • CEO Interviews
  • Company Profiles
  • Newsletter
  • Magazine
  • About Us
  • Our Team
  • Contact Us
Hyve logo

Please note: This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine are not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, any regulated products, securities or investments. This Web site and The Assay Magazine do not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated products, securities or investments. This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated products, securities or investments, including, without limitation, any advice to the effect that any mining or metals related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor. A decision to invest in any regulated products, securities or investments should not be made in reliance on any of the information or materials on this Web site or in The Assay magazine. Before making any investment decision, prospective investors should seek advice from appropriately qualified and licensed financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

Privacy Policy

© 2023 The Assay

No Result
View All Result
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Africa Insights
  • Videos
    • CEO Interviews
    • Investor Panels & Presentations
  • Company Profiles
  • Magazine
  • Newsletter
  • 121 Mining Investment
  • About
    • About Us
    • Our Team
    • Contact Us
    • Partners

Please note: This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine are not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, any regulated products, securities or investments. This Web site and The Assay Magazine do not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated products, securities or investments. This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated products, securities or investments, including, without limitation, any advice to the effect that any mining or metals related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor. A decision to invest in any regulated products, securities or investments should not be made in reliance on any of the information or materials on this Web site or in The Assay magazine. Before making any investment decision, prospective investors should seek advice from appropriately qualified and licensed financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

Privacy Policy

© 2023 The Assay

Go to mobile version