George Soros Buys $263 Million Stake in Barrick Gold

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George Soros has bought a $263 million stake in Barrick Gold (TSX:ABX), Seeking Alpha reported on Tuesday. Shares of the gold miner were up 3 percent on the news. As quoted in the publication: George Soros, who once called gold “the ultimate bubble,” has resumed buyingthe yellow metal after a three-year absence, disclosing during Q1 …

George Soros has bought a $263 million stake in Barrick Gold (TSX:ABX), Seeking Alpha reported on Tuesday. Shares of the gold miner were up 3 percent on the news.
As quoted in the publication:

George Soros, who once called gold “the ultimate bubble,” has resumed buyingthe yellow metal after a three-year absence, disclosing during Q1 he bought 1.05M shares in the SPDR Gold Trust ETF (GLD+0.3%) valued at $123.5M, while also doubling his wager against the S&P 500.
Soros Fund also made a big bet on miner Barrick Gold (ABX+3.1%), adding a $263.7M stake and raising its ownership to 19.4M shares, making it Soros’ largest U.S.-listed holdings and giving him a 1.7% stake.

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