Soros increases exposure to Gold

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.

So, the question is: Are you going to make the decision to join us today?


Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.



To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

Comments

[fallingman]

So, we're in the same lifeboat together. I find that creepy on a personal level, but I guess we couldn't ask for a much stronger endorsement. (I guess Mr/ Soros doesn't understand gold is going to $350.)

[Gold Prices]

$350! thats a tad beyond us this morning.

[fallingman]

Di's target...not mine. Just having some fun with some folks' pinpoint targets.

And I believe the Elliot Wave people periodically issue similar forecasts. Stopped paying attention to them years ago.

Didn't mean to scare you.

[Gold Prices]

Gotcha, thought that you had flipped for a moment there..