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Soros Fund Management Slashes Gold Stake in Second Quarter

Soros Fund Management LLC sharply cut its shares in gold in the second quarter, when bullion prices rose to two-year highs, regulatory filings with the U.S. Securities and Exchange Commission showed on Monday.

The fund, which returned to the world’s biggest gold exchange-traded fund SPDR Gold Trust (GLD.P) in the first quarter of 2016 after a three-year absence, sharply cut his stake in the second quarter.

Billionaire financier George Soros’ fund reduced its holdings in SPDR Gold Trust to 240,000 shares worth $30.4 million, from 1.05 million shares worth $123.5 million in the first quarter.

Reuters [1]

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam [8]

Senior Market Analyst - UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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