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warren buffet buys a large share of barrick gold – a gold mining company and dumps shares of banks jp morgan and wells fargo
it was disclosed on friday – aug 14 2020 that the legendary investor , warren buffet , has invested a lot of money into the gold mining company – barrick gold . this is a 180 degree turn for warren buffet .
warren buffet has always been against gold – he did not like that it did not earn any profits – it was just a dead metal and the only way you could make money was by gold appreciating
but it seems he has realized that the unlimited money printing from all countries will start a bull market in gold and other precious metals ..
here is the story link :
will this news move gold and silver up ? let’s see .. shares of barrick gold were up 8 % after the news came out ..
also he has dumped his shares in the banks jp morgan and wells fargo
jp morgan , back in 2019 had been charged with manipulating the precious metals market with a process called “spoofing” – where you place a large buy or sell orders , create demand in that direction and then cancel the trade before it gets executed
three traders – a managing director and two executive traders were charged in this multi-year manipulation scheme to drive the prices of precious metals down
Here is the link to the story
did they purchase physical silver at these low prices to accumulate for the long term … ?
if they did , what do they know about the long term market prospects for precious metals that we don’t ?
here is an eye opener for you .. jp morgan is the one of the custodians for comex , the metals exchange , meaning that if you place an order for a a metal and want physical delivery , jp morgan ensures it for you
instinct says , follow the smart money …