Reversal of Fortune: Soros Said to Buy Gold Again Late Last Year

Friday, 06 Jan 2012 11:15 AM

By Forrest Jones

Legendary financier George Soros returned to buying gold in late 2011 after selling it earlier, and is due to reap the benefits later this year when Fed policies will likely weaken the dollar and send the precious metal climbing, Emerging Money reports.

In the first quarter of 2011, Soros Fund Management sold almost all its shares in the SPDR Gold Trust and the iShares Gold Trust exchange-traded funds, Bloomberg reports, citing SEC data.

Gold later fell in 2011 as the dollar resumed its safe-haven status on sentiment that the U.S. economy was set to improve and somewhat decouple itself from Europe's woes.

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