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Investment guru George Soros has doubled his investment in gold while cutting nearly half of his stock positions in the second quarter.
Soros has gone overweight on SPDR Gold Trust, the biggest exchange-traded fund, according to the latest SEC statistics. His holding in the fund now totals about 640 million US dollars. The overall ETF has grown 10 percent in the second quarter. Soros Fund Management also increased its holding in Yamana Gold. And he's not the only one.
Other investment sharks have also rushed into the safe-haven metal. Paulson & Co. bought 32 million shares of SPDR, becoming its biggest stockholder.
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