They predicted a golden age

Almost everyone has heard that gold is considered a safe haven. However, investors around the world are only now realizing that this is indeed the case. At the same time, some figures from the business world have predicted that we are entering a golden age.

Sam Zell, Naguib Sawiris, Frank Giustra, and Warren Buffett—anyone who is even slightly interested in finance, investment, or entrepreneurship has heard of these figures at least once. They come from different parts of the world and different industries, but ultimately they have one thing in common—they have a nose for business. In chronological order, we should start with Naguib Sawiris, who in the spring of 2018 decided to invest half of his fortune in the royal metal. In the case of this Egyptian entrepreneur, this means investing capital in the shares of mining companies.

In January 2019, Sam Zell, an entrepreneur of Polish descent, announced a huge investment in gold. The businessman, who is known for investing in real estate, decided to change industries and enter the gold market. It is worth noting that at the turn of 2018/2019, when Zell opened up to gold investments, the price per ounce was only $1,300. Today, the price of gold is quoted at around $1,960 per ounce. No comment is needed.

August 2019 brought Frank Giustra's prophetic announcement that the golden age was beginning. Today, with a year's hindsight, we can confirm that the Canadian entrepreneur was right. Giustra himself is probably earning exorbitant sums on the bull market, as he is a shareholder and CEO of companies that invest in precious metals, among other things.

The real icing on the cake is Warren Buffett and his decision to invest in gold (we wrote more about this here). The entrepreneur has long emphasized that gold cannot compare to investing in US companies. It turned out that the situation took a slightly different turn, as Berkshire Hathaway decided to acquire shares in Barrick Gold, while at the same time selling off its shares in US banks.

The example of the last of the aforementioned entrepreneurs and the fact that he has a so-called "nose for business" suggests that the boom in the gold market will continue for a long time, and investing in gold will remain the most profitable form of investment. Similar predictions are made by global analysts, who assume that the price of gold will continue to rise, while the situation of national economies remains uncertain and, unfortunately, we will face a recession.