As we noted today, George Soros is still adding to his position of GLD. That should be a positive for precious metals. What is very interesting is that he also added to the mining companies in the steel industry. It could be bullish for anything that has to do with iron ore and coal, this corresponds with my bullish case on Cliffs Natural Resources (CLF) as I noted here.
This sector is still very sluggish, but Soros could be looking at value buying here.
Thursday, 15 November 2012
Soros Bullish on Gold and Mining
Posted on 10:41 by Unknown
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