Loading ...ANYBODY still want to follow BUFFETT ? record earnings following BUFFETTS exit…….REALLY !He’s a SHILL for his paper stocks .
(Warren Buffett’s Berkshire Hathaway has exited gold entirely, less than a year after moving into the space. According to the latest filings, Berkshire sold its Barrick Gold shares entirely in the fourth quarter after purchasing 21 million shares in the second quarter of 2020.)
Frank Holmes
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- The best performing precious metal for the week was platinum, up 1.53%.
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- Platinum rose above $1,300 an ounce for the first time in six years on bets that a recovery in industrial demand and stricter emissions rules will tighten supply. The precious metal is up 21% so far in 2021. After years of surpluses of platinum, COVID-19 shutdowns in South Africa saw the deficit widen to 400,000 ounces last year.
- Barrick Gold, the most profitable major gold miner, reported a sixth straight quarter of earnings outperformance after boosting production and reducing costs in the fourth quarter. Barrick met its full-year guidance and achieved a 3.8% drop in costs, with all-in-sustaining costs of $929 an ounce. Newmont, the world’s largest gold producer, also posted strong fourth quarter earnings with revenue up 14% to 3.38 billion. Bullion averaged $1,876 an ounce in the last quarter, reports Bloomberg, helping miners stay profitable.