Soros, Paulson Stick With Gold

John Paulson has kept his gold holdings unchanged, and George Soros has increased his holdings of the SPDR Gold Shares Trust (GLD) by 0.5%.

Soros Fund Management LLC held 4,721,808 SPDR Gold Trust shares as of Dec. 31, compared with 4,697,008 shares at the end of the third quarter, according to the filing. Soros’s call options on 705,000 shares in the trust as of Sept. 30 weren’t listed in the latest report. Paulson & Co.’s holding, the largest in the SPDR fund, was 31.5 million shares....

Michael Vachon, a spokesman for Soros, declined to comment on gold investments and the filing, when asked before its release. Armel Leslie, a Paulson spokesman, declined to comment....

Soros described gold at the World Economic Forum’s meeting in Davos, Switzerland, in January last year as “the ultimate asset bubble.” In a Nov. 15 speech in Toronto the 80-year-old said conditions for the metal to keep rising were “pretty ideal” and at this year’s Davos forum he said the boom in commodities may last “a couple of years” longer.

The article notes that ETF holders, despite the repute of investment demand being fickle, tend to be long-term holders.


Paulson-followers may be interested to know that he's added energy producers to his portfolio.