According to Marketwatch.com, the Soros Fund Management LLC, headed by George Soros, increased gold positions during the third quarter, as stated in a regulatory filing late Monday. His timing looks reasonably good as the chart of the SPDR Gold Trust Shares indicates.
Soros held 4,697,008 shares of the SPDR Gold Trust /quotes/comstock/13*!gld/quotes/nls/gld (GLD 132.93, +0.51, +0.39%) and 705,000 call options on the gold ETF at the end of September, the filing showed. Note the number of call options they bought and readers ask us if we have any influence on the market, we are way too small to be able to do that.
Soros also owned 5,000,000 shares of the iShares Gold Trust /quotes/comstock/13*!iau/quotes/nls/iau (IAU 13.31, +0.06, +0.45%) at the end of the third quarter, according to the filing.
Three months earlier, Soros held 5,244,697 shares of the SPDR Gold Trust, a portion of which was a shared position.
The firm held no shares of the iShares Gold Trust at the end of June, according to the filing. Such regulatory filings don't include all positions held by investment firms.
Many derivatives, direct commodity holdings and short positions aren't included.
We don't know if he has bought more since or even disposed of some of them, but preparing their exit strategy would be fun, still, one day!
Over in the options trading pit the team have just updated the progress chart to include last weeks closed trades as follows:
The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.
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