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Billionaires Soros, Bacon Boost Gold Holdings as Prices Gain

Billionaire investors George Soros and Louis Moore Bacon increased their stakes in exchange-traded products backed by gold as prices jumped the most in more than two years. John Paulson maintained his holding in the biggest bullion-backed ETP as Paul Touradji sold his stake.

Soros Fund Management boosted its investment in the SPDR Gold Trust, the biggest fund backed by the metal, by 49 percent to 1.32 million shares as of Sept. 30 from three months earlier, a U.S. Securities and Exchange Commission filing for third-quarter holdings showed yesterday. Paulson & Co., the largest investor in the ETP, kept its stake at 21.8 million shares. Bacon’s Moore Capital Management LP acquired 1.8 million shares in Sprott Physical Gold Trust last quarter.