Quote of the Day by Warren Buffett on gold: 'Call me crazy, but I’ll take the farmland and the Exxon Mobils'

Gold prices are hitting fresh highs with striking regularity. The yellow metal has shattered multiple records in recent months, benefiting from its safe-haven appeal amid global uncertainty. On Monday, gold surged to a peak of $4,690.59 per ounce, while silver touched an all-time high of $94.12 an ounce.

Yet many may be surprised to know that legendary investor Warren Buffett is not a fan of gold.

Over the years, Buffett has repeatedly expressed skepticism about investing in the precious metal, often contrasting it with productive assets such as farmland and businesses.


On one occasion, he explained his view by comparing the total value of all the gold in the world with income-generating investments.

"I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a side…Now for that same cube of gold, it would be worth at today’s market prices about $7 trillion – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion…you could have all the farmland in the United States, you could have about seven Exxon Mobils (XOM) and you could have a trillion dollars of walking-around money…And if you offered me the choice of looking at some 67 foot cube of gold and looking at it all day, and you know me touching it and fondling it occasionally…Call me crazy, but I’ll take the farmland and the Exxon Mobils," Buffett reportedly said once.

On another occasion, Buffett summed up his criticism more bluntly: “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

Despite Buffett’s long-held view, gold prices are widely expected to continue their upward trajectory, with some forecasts pointing toward $5,000 per ounce as global uncertainty persists.

Sadaf Sayeed, CEO of Muthoot Microfin, told ANI that banks estimate gold prices could approach the $5,000 mark, driven by sustained demand.

“Globally, people use gold to hedge against volatility and uncertainty. As global market volatility continues and new developments emerge every day, gold remains the natural hedge,” he said.

Gold had an extraordinary year in 2025, with prices rising more than 54% and recently crossing the $4,000-per-ounce milestone—the highest level since 1979.

As the global economy grapples with inflation, systemic pressures, and geopolitical challenges, gold’s appeal as a safe-haven asset is likely to remain strong, even as investors like Warren Buffett continue to look elsewhere.