by Daily Bell Staff
The Daily Bell
Billionaire Soros Cuts U.S. Stocks by 37%, Buys Gold … George Soros cut his firm’s investments in U.S. stocks by more than a third in the first quarter and bought a $264 million stake in the world’s biggest bullion producer Barrick Gold Corp. – Bloomberg
The billionaires are buying gold.
George Soros has just invested in a gold producer, Barrick gold.
Soros is not alone. His former chief strategist Stan Druckenmiller has stated gold is now his largest currency holding. Druckenmiller’s big move regarding gold was partially in response to central bank initiated negative interest rates.
Then there is billionaire hedge fund manager Paul Singer who reportedly believes gold is at the beginning of a global rebound based on the prospect of increased price inflation in the West and around the world.