Soros Fund, which took a $263.7 million stake in Barrick Gold Corp. in the first quarter, cut its holdings in the world’s biggest producer of the metal by 94% in the ensuing three months.
Japanese investors are buying gold to store in Switzerland because of negative interest rates and fears the yen will depreciate as the government grapples with the heaviest public debt burden in the developed world.
Hedge funds boosted their bets on price gains for bullion to an all-time high just two days before U.K. voters took to the polls and decided to leave the European Union, sending global markets roiling.
