17 May '11, 8am

Soros dumped most gold in Q1, Paulson stays put via @cmswire

Soros dumped most gold in Q1, Paulson stays put via @cmswire

Finance legend George Soros speaks at the University of Hong Kong on February 3, 2010. -- PHOTO: AFP NEW YORK/BOSTON - BILLIONAIRE financier George Soros, who called gold 'the ultimate bubble,' dumped almost his entire US$800 million (S$999 million) stake in bullion in the first quarter, well before a commodities slump blamed partly on reports he was liquidating his holdings. Famed gold bull John Paulson held his ground, but Mr 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 that provide the best insight into where hedge funds are placing their bets. Gold prices barely reacted to the news, with spot gold up 0.3 per cent at US$1,494.29 an ounce by 0327 GMT (11.27am Singapore time). Rising inflation worries and a debt crisis in the euro zone should h...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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