At the end of the previous quarter, Buffett's Berkshire Hathaway held about 12 million shares of the Canadian gold and copper mining company. The interesting thing about these quotes is that they don't apply to Barrick Gold. Unlike gold, Barrick Gold continues to lay eggs in the form of profits and dividends. It doesn't bury gold in the ground, it sells it to others who bury it in the ground.
In the short term, Barrick shares could continue to face some pressure if gold prices weaken, although any decline in profits due to gold should be partially offset by rising copper prices (Barrick owns and operates four copper mines).
