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Soros Triples Bet on Gold
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Description
FBN's Liz MacDonald on whether billionaire investor George Soros is making the right bet on gold.
- Duration 1:02
- Date May 16, 2012
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Transcript
This transcript is automatically generated
Bottom -- time well you know the price of gold has really come back.
And apparently somebody that you may have heard of was not betting on that Elizabeth McDonald -- the bottom line about -- Right.
-- billionaire George -- says tripled his holdings.
And gold he is buying what others are selling.
Take a look at the price action in gold it is -- what's called a technical technical correction territory down 20%.
Since hitting a high in September.
But look at when George Soros -- last year you sold gold spiking higher cities -- the wrong time and it -- buying at the wrong time.
-- gold dropped even more as hedge funds and other investors.
Dump their holdings because they need to raise cash because of what's going on in Greece and in Europe so that's a question is George Soros timing it right up -- something.
Other funds like vinik asset management are sitting tight so is SAC capital and -- biggest gold investor.
John Paulson -- you hi Andy Mac will have more thank you -- on their throughout the day here on.
