Premier-eFinance: Billionaire investor Soros cuts gold holdings by 13 .4%.

Aug. 17, 2011 - PRLog -- According to a recent disclosure by the Securities and Exchange Commission (SEC), billionaire investor George Soros has cut his Gold, Premier-eFinance has learned.  The disclosure comes as a result of the 13 F’s by the SEC which requires hedge fund managers to disclose their holdings.

The disclosure shows that Soros cut back his SPDR Gold Trust position by 13.4% to 42,800 shares in the second quarter of this year.

Paul Touradji, who runs one of the world's largest commodities-oriented hedge funds, sold off his entire stake of SPDR Gold Trust worth about $25 million too.

Meanwhile, James Paulson, the famed gold bull opted to hold on to his $4.6 billion stake in the same trust, Premier-eFinance was informed.

"Paulson basically is putting his money where his mouth is. He believes that gold is earmarked to move substantially higher," Mark Luschini, chief investment strategist at Janney Montgomery Scott which manages $54 billion in assets, told Premier-eFinance sources.
"With the Fed saying it is likely to keep interest rates low for a couple more years, it is basically advertising to the market that ... we are going to maintain a highly accommodative monetary policy which is a dollar-debasing position" that usually benefits gold, Luschini added.

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