RE: Confidence26 Aug 2020 01:30
Why $5000 Gold Could Soon Become A Reality
By Paul Garner - Aug 25, 2020, 6:00 PM CDT
The post-COVID ‘new normal’ and a flood of stimulus packages from the Federal Reserve have crushed the dollar and pushed gold to record heights.
And with the real economy in a precarious situation, gold prices could soon hit $3000, $4000 or even $5,000 dollars per ounce.
Investors of all types are piling into safe haven assets in unprecedented numbers, and when even the most gold skeptic investors are starting to bet big on bullion, one may conclude that things have fundamentally changed.
This week, The Oracle of Omaha himself, Warren Buffett, disclosed Berkshire Hathaway’s recent investment in gold miner Barrick Gold Corp. This is the first time he has bought gold, and it is a sign that the legendary investor places significant value in the yellow metal.
Source: TradingView
One thing Buffett knows is that gold mining stocks have historically always performed better than physical gold.