Re: 7.62 Metres Grading 6.16 g/t Gold on the Mineral Ridge Project

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drandres

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Re: 7.62 Metres Grading 6.16 g/t Gold on the Mineral Ridge Project

in response to

7.62 Metres Grading 6.16 g/t Gold on the Mineral Ridge Project

durban1

posted on Aug 24, 2012 05:20PM

From Wealth Daily:

Soros was once a gold bear. He appears to be getting religion:

George Soros — who, in 2010, said gold was “the ultimate asset bubble” and that it was “certainly not safe” — more than doubled his position in gold in the second quarter.

SEC filings show Soros Fund Management more than doubled its stake in the SPDR Gold Shares (NYSE: GLD) from 319,550 shares to 884,400 shares. That's $143.4 million worth of gold.

Hedge fund manager John Paulson, who made billions betting against subprime mortgages during the crash, is also increasing his stake in gold.

His Paulson & Co. fund purchased an additional 4.53 million shares of SPDR Gold in the second quarter, bringing his total to 21.8 million shares. He now owns $3.53 billion worth of gold, or about 44% of the company's assets.