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Warren Buffet argues against buying gold as investment for being non-productive.

"The 170,000 tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond. Admittedly, when people a century from now are fearful, it’s likely many will still rush to gold"
Kamal Singh's profile photoRanjit Bhalerao's profile photoBhavin Thakkar's profile photonash copper's profile photo
Gold as a hedge against devaluation of paper currency seems like a productive reason to own gold.
+Christian Magoon, I agree about hedge part. That aspect gives gold its deserved popularity. I think Warren argues here one non-currency instrument with another, argued-to-be-more-productive non-currency instrument (namely, equities in companies).
BTW, how did you come across my post? I guess you've a 'saved search' that matched some keyword from the post :-)
Sooner or later all the fiat currencies will collapse, central banks around the world just can't printing currencies out of thin air. I will still keep part of my long term investment in precious metals. Why don't you ask the same question to George Soros about the gold, since he made billions by investing in precious metals over the last few years. Personally, I don't think average retail investor should follow Buffet, because he gets special guarantee deals for investing his capital. For instance few years ago he invested in GE, BAC and in return got special hefty dividend, how come average investors didn't get such deals. I think Warren Buffet is the world's biggest thief who uses his connections and large capital to manipulate such deals. Do your own homework for every single investment, don't follow these types manipulators.
Irrespective of all this - at least in our Indian community the mentality is that Gold is always good to have but it is not easily liquidatable. What do you think +Bhavin Thakkar? Worth buying Gold ETFs?
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