Barrick Gold surges after Buffet reveals stake

August 18, 2020 12:00

Barrick Gold surges after Buffet reveals stake

Shares in gold miner Barrick Gold surged more than 10% higher after legendary investor Warren Buffett revealed a stake in the company through his own investment vehicle, Berkshire Hathaway.

According to filings with the Securities and Exchange Commission (SEC), Berkshire Hathaway added a $526 million position in the second quarter of the year, making them the 11th largest shareholder in the gold mining company.

Did you know you can speculate on the share price of Barrick Gold and Berkshire Hathaway's using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!

While the stake in Barrick Gold may not be as big as Berkshire's $89 billion position in Apple, it is a big bet on the price of gold continuing its surge higher. The precious metal surged to an all-time high just a few weeks ago as investors rushed into the safe-haven asset during the coronavirus pandemic.

Traditionally, Buffett has disliked gold and preferred assets that provide cash flow or pay dividends. As the position is small, it may have been done by one of his lieutenants, Ted Weschler or Todd Combs, rather than himself.

How to trade share CFDs with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the share price of Barrick Gold or Berkshire Hathaway you can speculate on their price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in the asset at the bottom of the Market Watch search box (Barrick Gold or Berkshire Hathaway) and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

ABX monthly chart

Source: Admiral Markets MetaTrader 5 Web, #ABX, Monthly - Data range: January 1, 1992 to August 18, 2020. Please note: Past performance is not a reliable indicator of future results.


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