Palantir bought $50M in gold bars in August as cash pile grows

Re:Palantir bought $50M in gold bars in August as cash pile ... by mbesto on Tuesday August 17, 2021 @04:33PM (#28214527)

> The gold broker likely bought them for $49.5 million and sold them for $50 million

If they bought a year ago, they not only would have lost money on the transaction just from the transaction alone, but would have lost even more money due to inflation.

This is why assets that provide no utility (gold) rarely create value long term.

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Re:Palantir bought $50M in gold bars in August as cash pile ... by slowhand09 on Tuesday August 17, 2021 @05:01PM (#28214812)

You should google "uses of gold".

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Re:Palantir bought $50M in gold bars in August as cash pile ... by jazzyjackson on Tuesday August 17, 2021 @05:38PM (#28215174)

If gold was a useful raw material then the vast majority of it wouldn’t be sitting in basements.

Personally I think we should be gilding more religious icons and applying leaf to pages of college text books so they don’t seem like such a raw deal.

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Re:Palantir bought $50M in gold bars in August as cash pile ... by mbesto on Tuesday August 17, 2021 @09:50PM (#28216925)

Palantir is going to start making earrings and selling cable wire?

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Re:Palantir bought $50M in gold bars in August as cash pile ... by missedthecue on Tuesday August 17, 2021 @04:56PM (#28214760)

well no one is saying a metal create value, they're a store of value

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Re:Palantir bought $50M in gold bars in August as cash pile ... by mbesto on Tuesday August 17, 2021 @09:48PM (#28216908)

FYI - the parent comment implied that $50M of value was created.

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