Data analytics software vendor Palantir sold all of its gold bars, which it bought for over $50 million in August 2021, for total proceeds of $51.1 million during the first quarter of 2023, according to its financial filing. At the time, Palantir had not given any reason for its investment in gold. With rising interest rates, gold lost its appeal to investors as an alternative to cash. Palantir closed the period with $1.62 billion in U.S. Treasury securities, accounting for over half of its cash, equivalents, and short-term investments, up from zero at the end of 2022.
