Gold

Gold: After gold fell 10% in a four-month slide through May, a number of investment banks are saying prices will rebound this year or next as the Fed shores up the world’s biggest economy by easing monetary policy and devaluing the dollar. Interestingly, SEC records show billionaire George Soros’ fund more than tripled its investment in the SPDR Gold Trust in the first quarter to 319,550 shares now valued at US$48.5m. It held as few as 42,800 shares last year and as many as 6.2m at the end of 2009. Meanwhile hedge-fund manager John Paulson continues to hold the biggest stake in the SPDR Gold Trust, with 17.3m shares in the SPDR Gold Trust, now valued at US$2.62b.