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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • Soros Bullish On Gold And Mining 1 comment
    Nov 15, 2012 1:42 PM | about stocks: GLD, CLF, XME

    As we noted today, George Soros is still adding to his position of GLD. That should be a positive for precious metals. What is very interesting is that he also added to the mining companies in the steel industry. It could be bullish for anything that has to do with iron ore and coal, this corresponds with my bullish case on Cliffs Natural Resources (NYSE:CLF) as I noted here.

    This sector is still very sluggish, but Soros could be looking at value buying here.

    Disclosure: I am long PHYS.

    Stocks: GLD, CLF, XME
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  • dieuwer
    , contributor
    Comments (2910) | Send Message
     
    I like CLF as well, but I think buying right now is a bit premature.
    15 Nov 2012, 02:42 PM Reply Like
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