Why George Soros trades gold as a currency now and so should you

arabianmoney.net / By Peter Cooper / February 25, 2013

Gold is behaving more and more like a currency and less and less like a commodity. It is pretty much the same story for silver, all the more remarkable given its dual role as an industrial metal.

George Soros who is said to have made $1 billion out of the yen recently and took the Bank of England to the cleaners for $1.8 billion two decades ago is also now very active in the gold market.

New gold manupulators

He’s sold half his holding in recent months, and that’s been a part of the reason for the weakness in the gold price. Mr. Soros and other hedge funds are playing the gold trading game, and are likely far more active market manipulators than the long detested bullion banks.

Gold is the ultimate money and a timeless store of value, how much value varies over time like any other currency. Last week we saw a capitulation sell-off in the gold and silver markets, their equivalent of a mini-crash.

READ MORE