Heidi Gutman | CNBC | Getty Imagesthat can retain or increase in value in times of market turbulence — but billionaire investor Howard Marks says he doesn't favor the precious metal as an investment.
The price of spot gold rose above $2,000 per ounce last year for the first time ever as the Covid-19 pandemic crippled global economic activity and rocked financial markets worldwide. Gold prices have since come down, but Speaking to CNBC, Marks — who is co-chairman and co-founder of Oaktree Capital — said the value of gold is "almost like a superstition."
Pro Oaktree SeekingAlpha TheStreet Barrick Gold surges after Warren Buffett buys a stake ($GOLD) Berkshire Hathaway bought 21 million shares of Barrick Gold worth roughly $564 million, a filing with the SEC showed. The buy comes as a bit of a surprise