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Wednesday, August 15, 2012

Billionaires go for gold


NEW YORK - Billionaire investors George Soros and John Paulson increased their stakes in the biggest exchange-traded fund backed by gold as prices posted the largest quarterly drop since 2008. Soros Fund Management more than doubled its investment in the SPDR Gold Trust to 884,400 shares as of June 30, compared with three months earlier, a United States Securities and Exchange Commission filing for second-quarter holdings showed yesterday. Paulson & Co increased its holdings by 26 per cent to 21.8 million shares.

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