Warren Buffett doesn't invest in gold. The explanation for Buffett's aversion to gold and his enthusiasm for silver is due to his basic principles of value investing. Barrick Gold became the second largest gold producer in the world last year after completing a merger with Randgold Resources. 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.
Subscribers receive frequent updates on gold mining stocks, access to all my best gold and silver stock picks and my real gold portfolio, and a new list of silver stocks ranked by producers, developers and explorers. 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). Now, the reason they prefer gold is because you can take gold anywhere, unlike stocks and real estate.