Warren Buffett has been very vocal about his disdain for gold as an investment. He sees little or no value in it. What Buffett calls a lack of value is the result of a lack of utility. He once said about gold: “It does nothing but sit there and look at you.” Warren Buffett has warned against stock dumping, cash hoarding, and buying gold or bitcoin when war breaks out, as he believes that investing in businesses is the best way to build wealth over time.
One of Buffett's basic investment principles is that you should only invest in things that are useful and that serve some purpose and that entail some practical need that people have. The explanation for Buffett's aversion to gold and his enthusiasm for silver is due to his basic principles of value investing.