gold ETF

George Soros’s hedge fund unloaded most of its gold holdings during the first quarter. At the end of March the New-York based Soros Fund Management possessed 49,400 shares of the SPDR Gold Trust against 4.7 million shares held at the end of December. A 5 million share stake in the iShares Gold Trust at the end of December disappeared completely from the latest filing.

At the end of Q4 the firm’s gold ETF positions were valued at over $774 million. Now, at the end of Q1 the remaining gold position was worth less than $7 million.