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From Soros signals gold bubble as Goldman predicts record at the Financial Post:
"When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment," Mr. Soros said at the World Economic Forum's annual meeting in Davos, Switzerland, in January. "The ultimate asset bubble is gold," he said.According to a Feb. 16 Securities and Exchange Commission filing, the $25 billion "Soros Fund Management LLC" increased its investment in the SPDR Gold Trust GLD (Quote and charts) by 152% in the fourth quarter. GLD is the world's largest exchange-traded fund for gold.
In a Jan. 28 Bloomberg Television interview, the 79-year-old billionaire recalled that former Federal Reserve Chairman Alan Greenspan warned of "irrational exuberance" in financial markets three years before the technology bubble burst in 2000. The Standard & Poor's 500 Index rose 89% in the period.
Buying at the start of a bubble is "rational," Mr. Soros said.
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Chart of Gold vs GLD