Soros Cuts Gold, Seeing Bear Market

Bloomberg reported that investors including George Soros are cutting their gold holdings and predicting a bear market for gold.

As quoted in the market news:

George Soros, the billionaire who two years ago called it the “ultimate asset bubble,” cut 99 percent of his holdings in the first quarter, Securities and Exchange Commission data show. Hedge fund managers John Paulson, Paul Touradji and Eric Mindich also sold bullion this year.

Click here to read the full Bloomberg report.