Tremors In Bullion Market

In 2020 gold prices have breached the psychological $2,000 per ounce for the first time after 2011 when gold price reached $1,923 per ounce.  This year seems to be the year of precious metal, as in the past eight months gold price has increased by 40 per cent.  New investors in gold have emerged, for example, Warren Buffet of Berkshire, who once mocked, makes a bet on the gold market. He changed his position in Barrick gold, buying 20.9 million shares or 1.2 per cent of the company’s outstanding stock with the current market value of $505 million. In the past, Buffet cautioned against investing in the metal because it is not productive like a farm or company. He might have been averse to gold in the past, but he has bet big on metal before in 1997 when he bought 129.7 million ounces of silver.  Paulson & Co, run by billionaire hedge fund manager, John Paulson,...