David Einhorn buys more gold as well

Yet another star hedge fund manager is increasing his holdings in gold. This time is David Einhorn which I had already reported about back in March: David Einhorn is buying gold to bet against central banks. And yet another report from MarketFolly which is doing a great job at following hedge fund managers and reading their SEC fillings.

Among the increased positions:
SPDR Gold Trust (GLD): Increased by 14%Among the top 15 Holdings (by % of portfolio)
  • 1: SPDR Gold Trust (GLD): 13.6% of portfolio
  • 6: Gold Miners ETF (GDX): 4.8% of portfolio
Is gold starting to take off? Or is it that this trade is getting really crowded and it's going to be time to get off? Difficult to know on the short term. But for the long term, I am sticking to gold and waiting for a dip to increase the position. In the meantime, I have increased my holdings of silver via the SLV ETF.

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