Palantir Technologies purchased $50.7 million worth of gold in 2021 as a hedge against inflation and recently sold it for a modest profit in 2023. Since then, gold prices soared, peaking at $3,506 per ounce, nearly doubling the 2021 valuation. Had Palantir retained its stockpile, it could have realized profits exceeding $99 million. Despite this apparent missed opportunity in gold, Palantir continues to excel financially, with strong revenue growth and an increase in stock value, highlighting its adaptation to market volatility and inflation concerns.
Gold prices hit record highs this week, reaching $3,506 per ounce, which is nearly double the valuation at the time Palantir made its purchase.
Palantir turned a small profit when selling their gold in 2023, missing out on potential gains that could have meant over $99 million today.
Investing in gold is viewed as a safe-haven strategy against inflation, a move Palantir underscored by accepting gold as payment.
The rapid rise in gold prices reflects the volatility in markets, which Palantir's COO alluded to by discussing the need for preparation against unpredictable events.
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