South Africa police standoff with illegal gold miners escalates
The police sealed off access to the Buffelsfontein gold mine in Stilfontein several weeks ago to deny the miners access to food and other essentials.
Bloomberg reports that George Soros’s $25.5 billion Quantum Endowment Fund has gone to a 75% cash position due to “baffling” market conditions:
“Soros and Moore Capital Management LLC are among hedge funds that have reduced the amount of money they’re investing in stock, bond and currency markets as they look for clarity on global events ranging from the debt crisis in Europe to China’s efforts to control inflation to the debate over the U.S. debt ceiling,” reports Bloomberg.
In the first quarter of the year, Soros ejected a lot of his gold exchange traded funds and shifted his investments to gold companies. During 2011 spot gold climbed $200 to recently close at a record $1,600/oz.
The Quantum Fund, privately-owned hedge funds, are managed by Soros’s two elder sons and Keith Anderson, the firm’s chief investment officer.
Image is by Irekia
