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George Soros buys gold despite dubbing it 'ultimate bubble'

Discussion in 'General Forex Talk' started by Forexwatchman, Feb 18, 2010.

  1. Forexwatchman

    Forexwatchman Sergeant

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    You be the judge of what's really going on here. Hedging his bets perhaps, or just knows something that we don't...
    George Soros buys gold despite dubbing it 'ultimate bubble' - Telegraph

    Excerpts:
    "Regulatory filings show that his $8.8bn investment vehicle, Soros Fund Management, raised its stake in exchange-traded fund SPDR by 3.7m shares to 6.2m shares in the three months ending December 31, 2009.

    ...However, the actions of the Mr Soros's investment fund however seem to be at odds with his own viewpoint. During the World Economic Forum in Davos in late January, Mr Soros said: "When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.

    ... Mr Soros is not alone in increasing his stake in the SPDR, with new filings also showing that China Investment Corporation (CIC), Beijing's main overseas investment fund, taking a 0.4pc stake in the fund worth $155.6m. "
     
  2. cowmadagan

    cowmadagan Sergeant

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    I'd say the safer way to trade this is to long the Aussie. Gold has a mind of its own. If you can predict the stock market, and the news, then gold is easy to predict. *snicker*
     
  3. Pharaoh

    Pharaoh Colonel

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    Someone like Soros can influence the market when he speaks. If he's trying to talk gold down while stocking up on it, that's just his way to try to hold prices down while he's still buying it.
     
  4. Forexwatchman

    Forexwatchman Sergeant

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    My thoughts exactly Pharaoh
     

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