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Post by jeffolie on Feb 21, 2010 10:06:52 GMT -6
Gold ETFs have become big news with countries and legendary traders taking staggering positions. ======================================================= Billionaire George Soros’s Soros Fund Management LLC more than doubled its holding in the biggest gold exchange-traded fund in the fourth quarter. The $25 billion New York-based firm became the fourth- largest holder in the SPDR Gold Trust, adding 3.728 million shares valued at $421 million, according to a filing with the U.S. Securities and Exchange Commission yesterday. Its investment was worth about $663 million, the fund’s largest single investment, as of Dec. 31. Soros joined China Investment Corp. and central banks including those in China and India in acquiring gold. China Investment, the $300 billion sovereign wealth fund based in Beijing, took a 1.45 million-share stake in the SPDR Gold Trust worth $155.6 million, according to a SEC 13F filing posted on Feb. 5. Assets held by the SPDR Gold Trust have expanded 2.2 percent this year after surging 24 percent in 2009. They stood at 1,109.42 metric tons yesterday. Institutional investor Paulson & Co. held the largest number of shares in the fund as of Dec. 31, with 8.65 percent, or 31.5 million shares. www.businessweek.com/news/2010-02-17/soros-more-than-doubles-gold-etf-holding-in-fourth-quarter.html
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Post by graybeard on Feb 21, 2010 10:58:49 GMT -6
But, Soros said at Davos gold is the ultimate bubble. What did he do with his gold positions now in the first quarter?
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