Monday, 20 May 2013

Soros gambles on a swift gold recovery

George Soros confused the markets with his gold ETF sales. Now he seems having put a on a far riskier bet. Not only he bought a fair stake in GDX, the main large cap gold mining ETF, Soros also gambles on a swift gold recovery though a considerable long position using call options on the Market Vectors Gold Miner Junior ETF (GDXJ).

Continue reading at: George Soros switches from physical gold to gold stocks and that is very bullish for gold prices

As the news hits the markets, gold turns up after grinding lower for several days last week and starting off lower this Monday. Silver actually put down a new post 2010 low today as it plummeted below $21 over night, before recovering well, quoting $22.70 by the NYMEX close / Globex open.

No comments:

Post a Comment