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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
Soros Fund Management LLC, which manages about $25 billion, increased its investment in SPDR Gold Trust, the worlds largest exchange-traded fund for the metal, by 152 percent in the fourth quarter, a Feb. 16 Securities and Exchange Commission filing shows. While prices have fallen 8.9 percent since reaching a record on Dec. 3, 15 of 22 analysts in a Bloomberg survey say gold will reach a new high, with the median forecast predicting a 16 percent advance to as much as $1,300 an ounce this year.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aFszao23VDGA&pos=10
My limit order is to close my Gold shorts at 1047. I will gladly give up the final $40/50 per ounce of this commodity's fall,to the greedy one's trying to capture every last $. Then I will be long for the move to $2200 as eventually USD Fiat currency is recognized for what it is-not even worth the paper it is printed on.
However, we still have a long way to get to that point.