NEW YORK (Commodity Online): Billionaire investor George Soros has raised his bullish bets on the SPDR Gold Trust, as per recent data by the Securities and Exchange Commission (SEC).
Soros' flagship Soros Fund Management LLC added 37100 shares, taking its total ownership to 85450 shares as of end Dec 2011. This represents a more than 75% jump in the Fund's holdings.
Earlier, in an interview with the Institute for New Economic Thinking, Soros had stated that he believed gold will not reach $2000 in 2012 but that it will also not go below $1000/oz either. He however added that gold was the ultimate safe haven.
Meanwhile, the largest shareholder of the SPDR Gold Trust, Paulson &Co, reduced its share position from 20.3 million to 17.3 million shares.
