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Message: hedge fund sells gold etf

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aitakahashi

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hedge fund sells gold etf

posted on Jul 15, 09 11:18AM

this could be significant. a hedge fund dumped its holdings in a gold etf and bought bullion. if others were to follow suit, this could expose the gold etfs as the paper fraud that they are.

July 14 (Bloomberg) -- Greenlight Capital Inc., the $5 billion hedge-fund firm run by David Einhorn, told investors it switched all of its holdings in a gold exchange-traded fund into bullion during the second quarter.

“At a minimum this will provide some savings as the costs of storing gold are less than the fees” for the SPDR Gold Trust, the New York-based firm said yesterday in a letter to investors.

http://www.bloombergnews.com/apps/news?pid=20601213&sid=arz6MqVbTVBs

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