Palantir buys gold as hedge against ‘black swan event’

Bloomberg/Lizette Chapman/8-17-2021

photograph of various gold bars

“The gold purchase was buried in a securities filing last week for its quarterly financial results and reported earlier this week by Barron’s. Palantir shares were up about 5% in intraday trading Wednesday.”

USAGOLD note: Palantir Technologies, the Denver-based company founded by Peter Thiel and Alex Karp (that began life in the Silicon Valley), has a reputation for out-of-the-box thinking. Since it specializes in software used by governments, one wonders if they know something the rest of us don’t – particularly when it goes to the trouble of mentioning their gold stockpile as a hedge against some future black swan event. The $50.7 million in 100-troy ounce gold bars represents about 28,000 troy ounces.

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