Earlier this month CI Investments Inc, an investment manager of Toronto-based CI Financial Corp, reported that it also cut shares in SPDR Gold Trust and dissolved shares in Barrick Gold, though it held onto some of its shares of option calls in the miner. In the fourth quarter, spot gold prices dropped 12.5 percent, their biggest quarterly tumble in 3-1/2 years. New York-based Paulson & Co, led by longtime gold bull John Paulson, cut its stake in SPDR Gold Trust to 4.4 million shares, worth $478 million, from 4.8 million shares, worth $600 million, at the end of the third quarter, according to filings with the U.S. Securities and Exchange Commission. FILE PHOTO - President and Portfolio Manager of Paulson & Co. John Paulson speaks during the Sohn Investment Conference in New York, May 16, 2012. REUTERS/Eduardo MunozNEW YORK Soros Fund Management LLC got out of gold in the fourth quarter of 2016 while Paulson & Co reduced its stake in SPDR Gold Trust, as bullion prices saw their weakest quarterly performance in 3-1/2 years, regulatory filings showed on Tuesday.
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Earlier this month CI Investments Inc, an investment manager of Toronto-based CI Financial, reported that it also cut shares in SPDR Gold Trust and dissolved shares in Barrick Gold, though it held onto some of its shares of option calls in the miner. In the fourth quarter, spot gold prices dropped 12.5 percent, their biggest quarterly tumble in 3-1/2 years. Soros Fund Management got out of gold in the fourth quarter of 2016 while Paulson & Co. reduced its stake in SPDR Gold Trust, as bullion prices saw their weakest quarterly performance in 3-1/2 years, regulatory filings showed on Tuesday. New York-based Paulson & Co, led by longtime gold bull John Paulson, cut its stake in SPDR Gold Trust to 4.4 million shares, worth $478 million, from 4.8 million shares, worth $600 million, at the end of the third quarter, according to filings with the U.S. Securities and Exchange Commission. The firm that invests the personal fortune of billionaire investor and philanthropist George Soros eliminated its shares in Barrick Gold in the October to December period, the fund's last remaining stake in bullion after dissolving its shares in the world's biggest gold exchange-traded fund SPDR Gold Trust in the previous quarter.
GLDI have stated many times that to see higher gold prices, we should see investors buying physical gold. Lower real interest rates are supporting higher gold prices so the current pattern reported by the COT report is bullish for gold. According to the COT reports, speculators in gold futures are still quite pessimistic about gold prices. COT ReportAlthough the last COT report delivered no essential information, a medium-term pattern, positive for gold prices, is emerging. Throughout history, the deep pessimism among speculators was indicative of higher gold prices in the future.
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collected by :Jack Luxor
As it stated in
Soros gets out of gold, Paulson cuts SPDR Gold shares
Earlier this month CI Investments Inc, an investment manager of Toronto-based CI Financial, reported that it also cut shares in SPDR Gold Trust and dissolved shares in Barrick Gold, though it held onto some of its shares of option calls in the miner. In the fourth quarter, spot gold prices dropped 12.5 percent, their biggest quarterly tumble in 3-1/2 years. Soros Fund Management got out of gold in the fourth quarter of 2016 while Paulson & Co. reduced its stake in SPDR Gold Trust, as bullion prices saw their weakest quarterly performance in 3-1/2 years, regulatory filings showed on Tuesday. New York-based Paulson & Co, led by longtime gold bull John Paulson, cut its stake in SPDR Gold Trust to 4.4 million shares, worth $478 million, from 4.8 million shares, worth $600 million, at the end of the third quarter, according to filings with the U.S. Securities and Exchange Commission. The firm that invests the personal fortune of billionaire investor and philanthropist George Soros eliminated its shares in Barrick Gold in the October to December period, the fund's last remaining stake in bullion after dissolving its shares in the world's biggest gold exchange-traded fund SPDR Gold Trust in the previous quarter.
GLDI have stated many times that to see higher gold prices, we should see investors buying physical gold. Lower real interest rates are supporting higher gold prices so the current pattern reported by the COT report is bullish for gold. According to the COT reports, speculators in gold futures are still quite pessimistic about gold prices. COT ReportAlthough the last COT report delivered no essential information, a medium-term pattern, positive for gold prices, is emerging. Throughout history, the deep pessimism among speculators was indicative of higher gold prices in the future.
read more visit us gold
collected by :Jack Luxor
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