I posted earlier that Stanley Druckenmiller bought a big new stake in gold ETF ... and that its his largest single holding
Ahraf Ladi has more on the 'why' of Druckenmiller is buying gold and copper:
- In early May, Druckenmiller told Bloomberg that interest rates were likely to stay near 0% for 10 years, casting doubt over whether the Fed would ever move to liftoff
- It remains unclear whether the trade is a long-term bet on the stabilisation of gold ... or is a short-term trade aimed at taking profit after a brief bounce
- The fact that Druckenmiller has also purchased 1.28 mn shares of gold miner Newmont Mining and 3.6 mn shares of copper giant Freeport-McMorcan in the same quarter could indicate he's in it for the long run
There is much more at Laidi's article, here: Why has Druckenmiller Dived in Gold & Copper
