"Everything you need to know about gold"
Warren Buffett is right – and wrong – about gold. And many others are, too.
Among their various characterizations of gold are the following: it is an unproductive asset; it doesn’t ‘do’ anything; it just sits there; it’s too volatile; stocks are a much better investment.
And, of course, they are right. Up to a point.
This year’s turnaround in Gold Mining shares had helped to buoy the hopes and dreams of investors who were ‘betting’ that their long, agonizing wait for euphoric, exponential gains is over. They continue to believe that the future for the Gold Mining Industry is quite rosy. Unfortunately, they are probably wrong.