As gold prices breached $4,300 an ounce in 2025, renowned valuation professor Aswath Damodaran is reinforcing a long-held skepticism championed by Warren Buffett: gold is not a true financial asset.Damodaran Echoes Buffett’s Core Reason For Avoiding GoldIn a recent video analysis of gold’s “insane rise,” Damodaran agreed with Buffett’s core logic, explaining that because gold generates no cash flows, it “cannot be valued” like a stock or a bond.Instead, Damodaran classifies gold as a “collectible,” whose pr ...