well worth a read, though you would expect him to say this but still, gold may just be overvalued given other investment opportunities. He may be missing that there is a camp that puts very little faith in paper money and when paper money in money market instruments yield so little, gold's allure increases even if gold doesn't produce anything. Gold has always been that, keeper of value.
http://finance.fortune.cnn.com/2012/02/09/warren-buffett-berkshire-shareholder-letter/
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