George Soros Bets on Gold

Filed in COMEX Gold Trust, gld, Gold, Gold Company, Gold ETF, GOld juniors by on March 5, 2010 0 Comments

Legendary hedge fund manager George Soros is double downing his bet on gold, even though he considers the market to be a bubble. Back in late January, at the World Economic Forum, Soros called gold “the ultimate asset bubble.” He failed to mention, however, that his hedge fund had recently more than doubled its position in the yellow metal. Advertisement The Best Lithium Play on the Market A tiny Chinese lithium play is about to corner the market. Even Warren Buffett is excited about it. He’s already bought in. In all reality, this could be the best stock to own for the next five years. Click here to read all about it. A recent SEC filing shows Soros Fund Management LLC— which manages about $25 billion— increased its investment in the SPDR Gold Shares ETF (NYSE: GLD ), the world’s largest gold ETF, by 152% in the fourth quarter of last year. The New York-based firm became the fourth-largest holder in the ETF when it increased its stake in GLD to 6.2 million shares, worth $663 million at the end of 2009. But last month, in comments delivered on the fringe of the World Economic Forum, Soros said: “When interest rates are low we have conditions for asset bubbles to …

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George Soros Bets on Gold

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