Warren Buffet, who once said he hated gold, made no secret of his aversion to gold investment. However, Berkshire Hathaway’s company (Berkshire Hathaway) submitted a 13F document on the 14th of local time, which showed that it had built a position in Barrick gold in the second quarter, buying 20.9 million shares, worth $563 million. The price of gold has soared to an all-time high this year. Earlier this month, gold broke through $2000 an ounce, then fell back slightly. Wall Street sees gold as a safe haven investment as a global response to the new epidemic. However, Mr. Buffett has often talked about why he thinks it makes more sense to hold stocks in high-quality companies than to hold gold, because gold does not generate revenue or profit as top companies do. Mr. Buffett’s sharpest criticism of gold may have appeared in Berkshire’s 2011 annual shareholder letter, in which he wrote, “if you keep holding an ounce of gold, you’ll still have only one ounce in the end,” joking that with a pile of gold, “you can touch the cube, but it won’t respond.”. Berkshire doesn’t buy real gold, but mining companies’ share prices usually rise and fall in tandem with commodity prices. So it’s hard to be bullish on miners if you think gold prices are going to plummet. However, in his 2011 letter to shareholders, Mr. Buffett also pointed out that “the motivation that motivates most gold buyers is that they believe that the degree of fear will increase.” This makes Berkshire’s investment in Barrick more compelling and may help explain the investment. < / P > < p > although the US stock market has rebounded from the short-lived bear market in March and returned to near historical highs, some investment experts are still uneasy about the following trend. < / P > < p > some investors worry that the worsening new epidemic in the United States will further weaken the economy, while others worry that the White House and Congress will not be able to reach a new economic stimulus plan. If these are not enough, investors are also worried about the recent escalation of international geopolitical tensions. As a result, Mr. Buffett may be betting on more fear, and that interest rates will eventually rise, damaging the economy. There are also other signs that Berkshire is doing more to adjust its portfolio in response to the downturn.