The Bears

During the first quarter of the year George Soros and hedge fund managers Erich Mindich (founder of Eton Park Capital Management) and Paul Touradji (Touradji Capital Management) dumped nearly $1.5bn of gold between them in the SPDR Gold Trust alone.

Soros got rid of $800m leaving him with around $7bn of gold on the trust at the end of Q1compared to $655m at the end of last year; Mindich halved his stake to $326m; Touradji sold around $25m of his trust shares.

The Bulls

Running counter to them all is hedge fund doyen John Paulson who retained his entire $4.4bn holding in SPDR to remain the single largest shareholder in the largest physically-backed gold ETF.

Jim Rogers, veteran investor, recently talked about the value of gold and silver, the strength of commodities, Federal Reserve chairman Ben Bernanke and Treasury yields plus the housing bubble in China. He was interviewed at the CFA Institute Annual Conference in Edinburgh (View the video clip)

About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
The views and opinions expressed in this article are those of the author. This does not reflect the official position of any agency, organization, employer or company. Refer to full disclaimers here.

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