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Soros Gold Bubble at $1,375 as Miners Push Each Button to Tears
"Here's the story of the SPDR Gold Trust—an ETF that holds more bullion than the Swiss central bank—and the role mining companies played in the precious metal's long bull run
By Cam Simpson
SPECIAL REPORT
The Dark Side of the Gold Boom
(Bloomberg) — James Burton didn't have a penny invested in gold of the $142.8 billion he managed as chief executive officer of the California Public Employees' Retirement System in 2002. Why would he? The metal had been in a bear market for two decades.
Yet shortly after announcing his retirement from the largest public pension fund in the U.S., Burton agreed to fly to London to entertain a job offer from a mining companies trade group he had never heard of. Squishing across a rain-soaked British golf course in rented shoes in early June 2002, he listened to what sounded like a far-fetched idea: Selling gold as an investment to the masses.
"Here's the story of the SPDR Gold Trust—an ETF that holds more bullion than the Swiss central bank—and the role mining companies played in the precious metal's long bull run
By Cam Simpson
SPECIAL REPORT
The Dark Side of the Gold Boom
(Bloomberg) — James Burton didn't have a penny invested in gold of the $142.8 billion he managed as chief executive officer of the California Public Employees' Retirement System in 2002. Why would he? The metal had been in a bear market for two decades.
Yet shortly after announcing his retirement from the largest public pension fund in the U.S., Burton agreed to fly to London to entertain a job offer from a mining companies trade group he had never heard of. Squishing across a rain-soaked British golf course in rented shoes in early June 2002, he listened to what sounded like a far-fetched idea: Selling gold as an investment to the masses.
