Soros Increased Bet on Gold Last Year

Investor George Soros doubled his bet on gold at the end of 2009 amid rising prices, a filing with the U.S. Securities and Exchange Commission shows.

The filing, made late Tuesday for the financial period ending Dec. 31, comes after Mr. Soros made comments during the World Economic Forum in Davos, Switzerland, in late January calling gold an asset bubble. He told media at the time that the low-interest-rate environment creates a condition for bubbles to develop and that gold is the ultimate bubble.

As part of that, he increased shares held of the SPDR Gold Trust to 6.2 million, valued at $663 million, as of the end of 2009. That was up from 2.5 million shares at the end of the third quarter.

Read Full Article from Wall Street Journal

- Posted: 2010-02-17 11:00:52

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