If you bought gold stocks as a hedge against the pandemic, as Warren Buffet did, you could sell, since many of the impacts of COVID-19 on the economy have disappeared. Barrick Gold shares rose 10.5% on Monday after Berkshire Hathaway, owned by legendary investor Warren Buffett, revealed its stake in the gold mining company's shares. The following 10-year chart illustrates how Barrick Gold shares tend to fall when the stock market rises and rise when the stock market falls. Undoubtedly, since Berkshire Hathaway's position in Barrick Gold is relatively small, one of Buffett's lieutenant investors, Ted Weschler or Todd Combs, could be responsible for the purchase and not the Oracle of Omaha.
For those looking to take advantage of this trend, a Gold IRA Rollover Kit can provide an easy way to invest in gold stocks. Berkshire's original purchase of Barrick surprised many, as Buffett is known for his negative view of gold.