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Soros sells gold as Paulson sticks with precious metals

Posted on 04 May 2011

While most fund managers seemed to stick with the status quo and remain in gold and silver last week, some notable hedgies are taking profits and looking elsewhere, reports the Wall Street Journal.

Sources tell the paper those include:George Soros. His $28 billion hedge fund firm, now run by Keith Anderson, believes deflation is less of a threat. That’s a key reason why Anderson and the Soros team moved into gold, becoming the seventh-largest holder of the SPDR Gold ETF (GLD). They also believe the Fed at some point will begin signaling a rate hike, helping to ward-off inflation……………………………………….Full Article: Source


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