Soros doubles his gold investment
http://news.bbc.co.uk/2/hi/science/nature/8521680.stm
US billionaire George Soros has more than doubled his investment in gold, despite calling it the “ultimate bubble” just weeks ago.
Mr Soros’ investment vehicle Soros Fund Management increased its holding in SPDR Gold Trust to 6.2 million shares, worth $663m (£425m) at the end of 2009.
It had held 2.5 million shares at the end of the third quarter of 2009.
The gold price hit a record high of $1,226.56 an ounce in December, but has since fallen back to about $1,100.
Mr Soros himself has suggested that gold may not be a good investment.
At the World Economic Forum in Davos last month, he said: “The ultimate asset bubble is gold.” However, he did not say whether he was investing in the precious metal.
But he also said that when he sees a bubble, “I rush out and buy”.
Mark Heyhoe, senior mining analyst at Westhouse Securities, said: “He has previously said that gold is the ultimate hedge against inflation – if you think inflation’s going to rise, then I’m not surprised he bought into gold.
“A lot of people were starting to look at gold, and a lot of people follow what he does,” he added. “But you need to buy a lot of gold to shift the price.”
As well as raising its stake in SPDR, Soros Fund Management also increased its holding in Canadian gold producer Yamana Gold.
The company also bought more shares in seed producer Monsanto, Brazilian oil producer Petrobras, and Wall Street bank Citigroup.
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so he says gold is a bubble and yet he himself buys more of it..strange behaviour?
and he increases his holdings in monsanto..not a good look..
401
at 86 year old lady ask me wenesday if soros is the antichrist
i respond i don’t know but he is really close to the puppet masters
hes damn close !!
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Time To Leave Citibank Folks – Citi Warns of Withdrawal Gate
http://snardfarker.ning.com/profiles/blogs/time-to-leave-citibank-folks
soros just bought more citigroup..
“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.”
thx yeni
[...] http://seeker401.wordpress.com/2010/02/21/soros-doubles-his-gold-investment/ [...]
Remember that investing in gold is not like investing in stocks for which you must consider several factors before buying or selling shares on the grounds that gold prices remain relatively intact, even though big ups and downs in the economy recorded. However, the best time to invest in gold is well before the economic crisis started because once it starts, people will rush to buy gold to protect their capital, leading to a shortage gold.
Gold investing is definitely the best way to go in this volatile economy!
Forgot to add that at the rate US is printing money, it’s monetary system is gonna fail one day and it’s back to good old gold and silver!
certainly looks that way..i would go with silver over gold for more leverage
it is not my money, i only publish ad… )))
peace mate..and thanks
I really want to start a gold investment firm and I’ve been reading up a bit on investment firms and their regulations and stuff, but I don’t know how much of it affects me or if there are different things I need to know if I’m going to be buying and storing gold verses investing in the stock market. Any advice would be great!
buy physical gold only..not paper