Economics
Druckenmiller Bought Gold After Reversing November Stance
- Billionaire investor cites cautious Yellen, Draghi comments
- Move pays off quickly as precious metal rebounds almost 10%
Trump Fears Seen Benefiting Gold Bulls
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Stan Druckenmiller, the billionaire investor with one of the best long-term track records in money management, said he bought gold in late December and January, reversing the sale he made after the U.S. presidential election.
“I wanted to own some currency and no country wants its currency to strengthen,” Druckenmiller said Tuesday in an interview. “Gold was down a lot, so I bought it.”