According to a regulatory filing, Duquesne Family Office paid $324 million for a 2.8 million share position in the SPDR Gold Trust (GLD), the market’s largest physical gold exchange-traded fund, just weeks after prices fell to a five-year low.
The filing shows that gold is now Druckenmiller’s largest single holding, followed by social networking service Facebook, which sits in second place with 1, 872, 700 shares, up from 252, 000 in the first quarter.
Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
The 62-year-old also purchased 1.28 million shares of gold miner Newmont Mining and 3.6 million shares of copper giant Freeport-McMorcan, suggesting that he could be planning to back precious metals for the long run.
