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soros is betting against gold

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mainmanmainman2

Veteran

Joined: Feb, 2011

Posts: 4357

Posted: May. 18, 2011 - 11:43 AM ET #1

unloading some gold... 800 million worth..

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mainmanmainman2

Veteran

Joined: Feb, 2011

Posts: 4357

Posted: May. 18, 2011 - 11:46 AM ET #2

NEW YORK (CNNMoney) -- Billionaire hedge fund manager George Soros sold nearly $800 million of gold during the first quarter, as the precious metal surged to record highs.

The investments in gold and mining companies made up about 10% of Soros Fund Management's $8.4 billion portfolio.

cnn money website tuesday

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misfit_aka

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Joined: Dec, 2009

Posts: 3713

Posted: May. 27, 2011 - 2:48 AM ET #3

not a bad idea...many think gold is on a bubble and due for a correction soon

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gamble04

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Joined: Sep, 2001

Posts: 4877

Posted: May. 27, 2011 - 8:27 AM ET #4

yes and Paulson is betting with gold as well as some other large investors. There are some very large gold trades out there. I would not be short gold.

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Kelly_Slater

Captain

Joined: Apr, 2009

Posts: 7621

Posted: May. 28, 2011 - 11:46 AM ET #5

I just got rid of some and I'm more than content.

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FrozenTundra

Captain

Joined: Mar, 2006

Posts: 8001

Posted: May. 29, 2011 - 10:44 PM ET #6

Gold is going up, I can not see one reason why it doesn't. Will it fluctuate of course, but buy gold and buy put options when you feel it's overbought and make money both ways.

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mainmanmainman2

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Joined: Feb, 2011

Posts: 4357

Posted: Jul. 22, 2011 - 7:56 PM ET #7

geesh, i guess soros tried to trick himself or others...

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mainmanmainman2

Veteran

Joined: Feb, 2011

Posts: 4357

Posted: Jul. 22, 2011 - 7:56 PM ET #8

its going to 1800 ( one or two analyst said )

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theblueprint

Prospect

Joined: May, 2011

Posts: 117

Posted: Jul. 30, 2011 - 11:44 PM ET #9

Even the best are wrong sometime

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BigChris51

Veteran

Joined: Jun, 2011

Posts: 1096

Posted: Aug. 3, 2011 - 2:17 PM ET #10

Question? There are We will buy your Gold stores opening up everywhere?
Doesn't that tell you something?

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woopdurritis

Banned

Joined: May, 2007

Posts: 22212

Posted: Aug. 3, 2011 - 8:26 PM ET #11

A "Gold and Silver Coin Exchange" is opening 5 minutes down the road from me

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PASA818

Veteran

Joined: Dec, 2006

Posts: 1155

Posted: Aug. 4, 2011 - 2:23 PM ET #12

I really don't understand the hype about investing gold/silver, diamond or what ever piece of rock there is out there. I recall back in the 80's/90's it was a good investment because the US was growing. Now with all the debt the US is in. Anything they say to fool you to believing. I spoke to a friend of my which is older then me say that the US doesn't understand about going hunger/war. He stated that salt/sugar was more valuable during the hard time back in the 50's/60s.

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jlt9889

Veteran

Joined: Sep, 2007

Posts: 4453

Posted: Aug. 4, 2011 - 3:28 PM ET #13

yulp if anything if gold hits in the 1700 hundred range i would short it also. it went up too fast just as fast as it will go down. this is what they want you to do is get confident in this sector then boom its bust down

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theblueprint

Prospect

Joined: May, 2011

Posts: 117

Posted: Aug. 4, 2011 - 4:19 PM ET #14

Quote Originally Posted by PASA818:

I really don't understand the hype about investing gold/silver, diamond or what ever piece of rock there is out there. I recall back in the 80's/90's it was a good investment because the US was growing. Now with all the debt the US is in. Anything they say to fool you to believing. I spoke to a friend of my which is older then me say that the US doesn't understand about going hunger/war. He stated that salt/sugar was more valuable during the hard time back in the 50's/60s.

Investing in gold has nothing to do with the wealth of a country. Gold will always be of value. That being said, I do think it is overpriced right now

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alling

Prospect

Joined: May, 2008

Posts: 372

Posted: Aug. 6, 2011 - 10:02 AM ET #15

internet bubble

real estate bubble

precious metals bubble

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Goldfisch

Rookie

Joined: Feb, 2008

Posts: 677

Posted: Aug. 8, 2011 - 10:16 PM ET #16

[Quote: Originally Posted by alling] internet bubble

real estate bubble

precious metals bubble

[/Quote>]

This is where you are wrong the bubble is the FIAT currency bubble that is bursting. Do some research. You collect your cash, I will collect my gold and silver and see who wins in 10 years.

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Kelly_Slater

Captain

Joined: Apr, 2009

Posts: 7621

Posted: Aug. 8, 2011 - 10:28 PM ET #17

^ up 61 dollars and change

gold is my new best friend @

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Kelly_Slater

Captain

Joined: Apr, 2009

Posts: 7621

Posted: Aug. 8, 2011 - 10:30 PM ET #18

1,744.99 OZ

Watch your neck for thieves

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mainmanmainman2

Veteran

Joined: Feb, 2011

Posts: 4357

Posted: Sep. 27, 2011 - 7:51 AM ET #19

they said it could hit the 1330$ to 1400 range within a few months...... wow... from there it would likely go up to 1600.

currently up after longest 3 day losing streak since 1983

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FrozenTundra

Captain

Joined: Mar, 2006

Posts: 8001

Posted: Sep. 29, 2011 - 12:59 AM ET #20

look into why the selling is happening. IMO this is a gift, many will disagree and that's fine. Margin hikes, profit taking, selling to cover equity losses.

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cave0707

Veteran

Joined: Oct, 2009

Posts: 1508

Posted: Sep. 29, 2011 - 6:05 PM ET #21

Quote Originally Posted by PASA818:

I really don't understand the hype about investing gold/silver, diamond or what ever piece of rock there is out there. I recall back in the 80's/90's it was a good investment because the US was growing. Now with all the debt the US is in. Anything they say to fool you to believing. I spoke to a friend of my which is older then me say that the US doesn't understand about going hunger/war. He stated that salt/sugar was more valuable during the hard time back in the 50's/60s.

If your friend was around in the 1930's ... I'm sure he would of said salt or sugar was more valuable than gold. The depression era was a mess

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soros is betting against gold

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