What Is Billionaire George Soros Doing With Gold?
The billionaire money manager and investor George Soros has been making some moves in the gold markets. Here’s the latest….
For the first time in three years he’s back in the gold market. His investment firm bought up over one hundred and twenty million dollars worth of call options in the gold ETF called GLD. In case you’re not familiar with options, call options are basically bets that the price of the underlying asset of the call option you buy will increase in price at sometime in the future. So this is a bullish on gold play for George Soros.
In addition to those gold call options, they bought up over two hundred and sixty million dollars worth of stock in the mining company Barrick Gold. Soros sold over three billion dollars worth of US stock in various companies. His largest holding is now Barrick Gold.
So you tell me if George Soros thinks gold is a good deal now or not…..