Buffett decided to sell GOLD shares because the pandemic could start to ease soon, so that's an understandable decision. This may not be the best time to invest in gold or gold-related assets such as Barrick Gold. You might consider looking for value opportunities in other sectors where stocks may rise in a recovering market. When Buffett revealed his position at a gold and copper mining company last year, it came as a big surprise to many.
The explanation for Buffett's aversion to gold and his enthusiasm for silver is due to his basic principles of value investing. Let's explore the possible key reasons for your decision to sell the shares of this Canadian mining company. When information about the Warrens Berkshire investment spread, the ABX stock rose to the highest price in the last 7 years and its value rose by 62%. One of Buffett's basic investment principles is that you should only invest in things that are useful and that serve some purpose and that meet some practical needs that people have.