Gold News

US billionaire doubles Gold Investment

US-based billionaire and influential financier George Soros has more than doubled his Gold Investment portfolio.

Soros Fund Management increased its holding in the SPDR Gold Trust from 2.5 million shares at the end of the third quarter of last year to 6.2 million shares at the turn of the year.

While the influential figure has recently suggested that Gold Price rises were simply part of a bubble, his commitment to the precious metal will offer encouragement to many people considering Investing in Gold.

Mr Soros' decision to double his investment in the yellow metal has come as less of a surprise to Mark Heyhoe, senior mining analyst at Westhouse Securities, even in light of the financier's past comments.

He told the BBC: "He has previously said that gold is the ultimate hedge against inflation - if you think inflation's going to rise, then I'm not surprised he bought into gold."

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