Soros: Conditions 'pretty perfect' for gold

London Free Press
Nov. 18, 2010

TORONTO - Billionaire investor and philanthropist George Soros may be cutting back on his gold bets, but he says the precious metal still has some kick to it, as long as conditions like low interest rates prevail.

“The conditions for (high) gold are pretty perfect,” he said during a speech in Toronto Monday evening to accept the Globalist of the Year award from the Canadian International Council.

“The big negative is that too many people know this and a lot of hedge funds are very exposed ... Gold has a tendency to go parabolic,” he said, pointing at its tendency to fall as quickly as it rises.

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