Palantir sells all of its gold-bar holdings worth $50 million gold holdings Palantir
After purchasing $50.9 million worth of 100-ounce gold bars in 2021, software and data analytics firm Palantir sold all of its gold holdings in less than two years for $51.1 million, citing"an immaterial realized gain," according to the company's Q1 financial filing.
When Palantir bought gold in Q4 of 2021, prices were trading below $1,900 an ounce. In 2023, gold began the year around that same level, but at the end of March, prices climbed sustainably above $1,900 an ounce, testing $2,000 an ounce a couple of times.During the purchase time, the macro environment was very different for gold.
"You have to be prepared for a future with more black swan events," Palantir COO Shyam Sankar told Bloomberg.During the time of holding gold, Palantir's holdings withstood inflation peaking at 9.1% in June 2022, and the Fed's hiking cycle, which saw interest rates climb 5% in just over a year.
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