George Soros, who called gold "the ultimate bubble", dumped almost his entire $800m stake in bullion in the first quarter.
The hedge fund veteran offloaded the stake well before a commodities slump blamed partly on reports he was liquidating his holdings, according to Reuters. Gold bull John Paulson held his ground, but Soros was joined in the retreat by several other big names, including Eric Mindich and Paul Touradji, according to 13-F filings with the US Securities and Exchange Commission. Soros, who has been bullish on gold in the past several years, cut his holdings in the SPDR Gold Trust (GLD.P) to just $6.9m by the end of first quarter, compared with $655m in December. He also liquidated a five ...
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