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May 3, 2009

Gata Dispatches: "Mine Web: Warren Buffet's good news for gold "

Submitted by cpowell on 02:04PM ET Sunday, May 3, 2009. Section: Daily Dispatches By Alec Hogg, EditorMineWeb.comSunday, May 3, 2009OMAHA -- In the 44 years he's been building a reputation as the world's savviest investor, Warren Buffett has rarely offered any good news on gold. Until now.The two key messages he delivered to 35,000 shareholders at Berkshire Hathaway's annual general meeting in Omaha over the weekend were inflation is coming back, and the U.S. dollar is headed lower. Both predictions, if fulfilled, are powerfully positive for gold. ...Despite his gloomy forecasts for inflation, Buffett hasn't exactly signed up to gold-supporting groups like GATA. Rather, he suggested to Berkshire shareholders their best protection was "invest in yourself, and, as a second option, buy stock in a well-run company." ...* * *
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