Garrett Baldwin discusses the indicators that tell us we're in a recession, regardless of whether or not officials acknowledge it.
Barrick Gold Corp
Garrett Baldwin breaks down what's different about the current bear market compared to previous ones, and gives a prediction of what comes next…
Gold is near $2,000-plus all-time highs, so it's no surprise that investing legend Warren Buffett is riding alongside gold's bull run. But nobody seems to know about another class of gold plays to make right now, giving us more upside potential in this specific stock…
Warren Buffett's most recent SEC filing showed that Berkshire Hathaway (NYSE: BRK-A) purchased 20.9 million shares of Barrick Gold (NYSE: GOLD) in the second quarter.
This raised some eyebrows as Buffett has been pretty outspoken about his dislike of precious metals investments over the years.
In reality, it is unlikely that this was Buffett's call.
Rather, it was probably one of the other portfolio managers at the firm – Ted Weschler or Todd Combs – who each manage about $15 billion of Berkshire's investment portfolio.
The total purchase of Barrick Gold cost Berkshire $562 million, which is relatively small for Buffett, and more in line with Ted or Todd's position sizing.
In spite of that, the headlines screamed Buffett buys a gold stock.
And the headline traders piled in moving the stock price about 11% higher on Monday.
Today, I'll break down what the average retail investor should do with Barrick Gold stock now…
Gold is trading higher by about 15% year-to-date; a global pandemic and widespread economic destruction will tend to drive investors toward the safe havens.
And with no end date on COVID-19 and the increasing likelihood of a lurch down to March lows, there's plenty of headroom for more gold gains.
And that makes right now the perfect time to make this smart move.
For the past month or so, gold has been trading around $1,700 and $1,775.
In fact, our Chris Johnson believes $1,700 is a technical floor, or a "launch pad" from which gold can rocket higher – 15% or even 20% from here.
So yes, this is the right time to own gold.
But you don't have to be content with those profits alone.
The Dow Jones Industrial Average will dip more than 100 points today as U.S.-China trade tensions grow stronger yet.
The ongoing trade dispute could tip several major economies into a recession. Here’s how traders are responding.
Today's Dow Jones Industrial Average will be largely flat after revived tensions in the U.S.-China trade talks.
The price of gold consolidated again last week, but that stage of the climb might already be over. If the "golden staircase" pattern continues, gold prices could jump higher again soon.
In fact, gold could get an even more bullish catalyst this year.
Gold sentiment as a whole is negative, but it suggests that the metal may be nearly done falling.
Gold prices took a hit at the end of last week. But now isn't the time to worry.
We know higher rates are a long-term catalyst for the price of gold.