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Weekly Digest: Warren Buffett, Inflation and Gold Prices

1 minute read
May 7, 2021

While Warren Buffett warns of accelerating inflation, gold prices are potentially set for a long-term upward trend. And more.

Warren Buffett sounds alarm on ‘very substantial inflation’ and increasing prices: “We are seeing very substantial inflation. We are raising prices. People are raising prices to us and it’s being accepted,” Buffett said at Berkshire Hathaway’s annual shareholder meeting.

Barrick Gold CEO lashes out against investor ‘short-termism' and places focus on reinvestment: "The rise in the gold price has prompted a resurgence of the short-termism which has plagued the market, with some investors focusing on short-term gains rather than sustainable growth," hindering the mining industry's ability to grow by demanding a bigger share of profits from high gold prices, Mark Bristow said.

Bullish potential? Gold prices poised to resume uptrend as inflation bounces higher: Tim Hayes, chief global investment strategist at Ned Davis Research, said gold prices might go up in the long run amid rising inflation pressures.

Ready, Set… Arkansas removes sales taxes on gold, silver, and more states may follow soon: Arkansas Governor Asa Hutchinson has signed a legislation allowing investors to buy gold, silver, platinum and palladium without being slapped with sales and use taxes.

🥇⭐ German private households own over 9,000 tonnes of gold: a fresh study found German private households own around 9,100 tonnes of gold - 70 tonnes more than in 2019.

Treasure hunters in Southern Poland started digging for… Nazi gold: a group of treasure hunters have started digging for 10 tonnes of Nazi gold at an 18th century palace in Minkowskie, southern Poland. It is believed treasures, stolen on the orders of Heinrich Himmler to set up a Fourth Reich, are buried there.

See you next week!


Photo Credit: Javier