Gold Expected to Increases in 2011 Says Soros

goldFamed hedge fund investor George Soros thinks gold prices are heading much higher in 2011. As the largest holder of the GLD fund, he has reasons to talk up the metal but he isn’t the only one all bull. John Paulson, David Einhorn, Paul Tudor Jones and other famous investors have piled into precious metals. The investment demand for gold now matches the jewelry demands for the metal, which used to account for approximately 80% of the total demand.

Soros recently said at a conference, “The current conditions of actual deflationary pressures and fear of inflation is pretty ideal for gold to rise. … The big negative is that too many people know this and a lot of hedge funds are very heavily exposed.”

When money flowed out of stocks in 2010 it went into bonds. Now that it is draining out of bond funds, where is it going? Gold is one possibility, though cycles analyst Charles Nenner suggests a February top in the precious metal.


Copyright © 2010, 2011 by All Rights Reserved. Information from third party sources deemed reliable but not guaranteed.
Privacy Policy | Terms of Service | Contact Us | Press Releases | About Us | Staff