George Soros is betting big on gold
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BY CHRIS LOWE, EDITOR AT LARGE
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George Soros is betting big on gold.
As Bill reported yesterday, the billionaire speculator cut his
firm’s investments in U.S. stocks by more than one-third.
Soros has also disclosed a new stake in the world’s biggest
gold miner, Barrick Gold (ABX).
Soros Fund Management, his investment vehicle, bought a 1.7% of Barrick.
This makes it Soros’ biggest listed holding.
As today’s chart shows, Barrick has skyrocketed so far in 2016.
The company’s stock is up a jaw-dropping 156% year to date.
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