Soros dumps most of his gold

Billionaire investor George Soros’s hedge fund dumped most of its gold holdings during the first-quarter, well ahead of the recent commodities sell-off, a regulatory filing showed yesterday. Soros Fund Management, based in New York, owned 49,400 shares of the SPDR Gold Trust at the end of March, down from 4.7m shares held at the end of December. A 5m share stake in the iShares Gold Trust at the end of December disappeared completely from the latest filing with the US Securities and Exchange Commission.