To convey his point of view on gold in that letter to shareholders, Buffett imagined that he owned all the gold in the world at the time, 170,000 metric tons were melted in a bucket of about 68 feet per side. Buffett's Berkshire reveals three new secret purchases. When news broke about the coronavirus vaccine, the risk began to decrease, leading to a decline in gold prices and a decrease in the stock price of gold companies. With gold prices falling in a recovering economy, Barrick's expectation that operating costs will remain high points to a bleak picture for the gold producer this year.
Now, the reason they prefer gold is because you can take gold anywhere, unlike stocks and real estate.
