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2020-08-16 — kitco.com

Long-time precious metal bugaboo, Warren Buffett, loaded up on Barrick Gold, according to a Berkshire Hathway 13F released today. Buffett bought just under 21 million shares. Current stake is worth $563 million.

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Through the years Buffett hung gold with some of its most memorable and negative epithets. In 1998 he shared his thoughts on gold during a Harvard speech.

"(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."

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