Mannapuram Gold Retail Fund Raise And Recent George Soros Moves
Till August, George Soros was net long in Gold. That was before all the European bad news flow ticked. And then in august he squared his long gold, like as they say, buy the rumour sell the news.
Post all the Euro Zone collapse talks, the yield on Italian bonds soared to more than 7%, most for any Euro sovereign debt. S&P threatened to downgrade nearly all 17 euro-zone countries and Europe's bailout fund.
Gold bugs are proclaiming further spikes.
And last month, George Soros announced a $40 MM pre-IPO investment in Hongkong jewellery retailer - Chow Tai Fook Group.
Only to cancel it today, while Chow priced the IPO at lower range of HK $15-21 raising HKD 2.08 BN.
Gold Prices
And now Manapuram announces it’s plan.
Who will bite the bullet? Will the bite on the retail rollout plan? Because George Soros is not biting the gold inventory plan.
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