Famous Financiers are Catching the Gold Bug

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Gold’s 23 percent surge this year to a record is proving no deterrent to George Soros, John Paulson and Paul Touradji, whose investments signal more gains for the longest winning streak in at least nine decades. Securities and Exchange Commission filings this month by Soros Fund Management LLC, Paulson & Co, and Touradji Capital Management LP listed investments in gold as their biggest holdings.

Soros, a billionaire investor and philanthropist, had his visibility soar after a famous trade in which he bet against the British Pound in 1992, a move that netted over $1 billion. Soros has now turned is interest towards the yellow metal  that he calls “the ultimate bubble,”  but that hasn’t stopped him from betting on the bubbleicious metal going higher. Soros recently announced during an acceptance speech for the “Globalist of the Year” award that “the conditions for (high) gold are pretty perfect”.

Source:

The Wall Street Journal Blog

Soros: Conditions for Gold ‘Pretty Perfect,” and “Soros, Paulson Boost Bets on Gold”

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