Paulson, Soros Add to Gold Hoard as QE3 Looms?
the biggest exchange- traded fund backed by gold as prices posted the largest
quarterly drop since 2008.
Soros Fund Management more than doubled its investment in the SPDR Gold Trust
to 884,400 shares as of June 30, compared with three months earlier, a U.S.
Securities and Exchange Commission filing for second-quarter holdings showed.
Paulson & Co. increased its holdings by 26 percent to 21.8 million
Gold slumped 4 percent in the second quarter, the biggest such loss since
Sept. 30, 2008. Prices fell as European Central Bank President Mario Draghi and
Federal Reserve Chairman Ben Bernanke failed to increase stimulus measures,
damping the outlook for global growth and demand for the metal as a hedge
against inflation. The price is little changed since end-June.
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