Gold and silver are down today. They usually go down when some notable sells and Soros is selling.
“George Soros’ Hedge Fund is selling gold and silver while John Paulson said gold is going to $4000. John Paulson told a UK news show on Tuesday that gold is going to $4,000, reports WSJ.
Despite some recent gyrations in the precious metals arena — more so on the silver side of things — the prominent investor remains super-bullish for the next 3-5 years.
On the other hand, according to reporters Gregory Zuckman and Caroline Cui, Soros has been a seller of gold and silver lately.
What what’s interesting is why: Soros no longer sees a big threat of deflation. Huh? Yes, while the average person may still think of gold as a bet to counter inflation, the metal obviously surged during the deflation scare, and the attendant raft of central bank easing moves. Those are clearly coming to an end (for now), and thus that theme is coming to an end…” Read more here: Soros selling his gold and silver